European Central Bank says that Bitcoin’s “fair value is still zero.”

ICYMI, a piece from two officials at the ECB on BTC that is not a ringing endorsement:

A snippet or two:

  • We … reiterate that the fair value of Bitcoin is still zero.
  • For society, a renewed boom-bust cycle of Bitcoin is a dire perspective. And the collateral damage will be massive, including the environmental damage and the ultimate redistribution of wealth at the expense of the less sophisticated.
  • Bitcoin has failed to fulfil its original promise to become a global decentralised digital currency.
  • Bitcoin’s second promise to be a financial asset, the value of which would inevitably continue to rise, was equally wrong.

Check out the full piece at that link above. Price action is arguing that BTC has something going for to!

This article was written by Eamonn Sheridan at Source