RATE Group | Former ECB President’s Statement Shows Bitcoin Does Have Impact on the Economy
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Former ECB President’s Statement Shows Bitcoin Does Have Impact on the Economy

14 Nov Former ECB President’s Statement Shows Bitcoin Does Have Impact on the Economy

Posted at 23:55h in Bitcoin News by

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While many enthusiasts offer a bullish assessment of the future of cryptocurrencies like bitcoin and the ways it can be used to replace or supplement fiat currency, the coins have received mixed reactions from central banks across the globe.

Now, former European Central Bank (ECB) president Jean-Claude Trichet has slammed cryptocurrencies — including Facebook’s Libra project — warning that Bitcoin is “not real” and not the future of money.

“I am strongly against bitcoin, and I think we are a little complacent,” said Trichet, speaking during a panel discussion at Beijing-based media group Caixin’s annual conference last weekend.

ECB’s Crypto Concerns

Bitcoin

Bitcoin is not real, and any purchase amounts to speculation, says ECB’s ex-chief as he pours cold water on cryptocurrency.

Bitcoin price soared in the first six-months of this year only to stall amid concerns lawmakers and regulators could be poised to crackdown on the nascent industry. Speculation surrounding these…

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