ToniWaltonXL5

econ

**The European Central Bank Blog**
### [ETF approval for bitcoin — The naked emperor’s new clothes](https://www.ecb.europa.eu/press/blog/date/2024/html/ecb.blog20240222~0929f86e23.en.html)

![b4556n56.png](https://m.stacker.news/17077)

> Bitcoin has failed on the promise to be a global decentralised digital currency and is still hardly used for legitimate transfers. The latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment.
>
> On 10 January, the US Securities and Exchange Commission (SEC) approved spot exchange-traded funds (ETFs) for Bitcoin. For disciples, the formal approval confirms that Bitcoin investments are safe and the preceding rally is proof of an unstoppable triumph. We disagree with both claims and 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.
>
> [...]
>
> https://www.ecb.europa.eu/press/blog/date/2024/html/blog20240222/ecb.blog20240222.en_img0.png?fd2000ffcf728d1b93365c998e43e89b

22 February 2024 — By Ulrich Bindseil and Jürgen Schaaf

Free Advertising Or Desperation ?

ecash

Not Really An Orange Pill Story, But It Feels Significant

RitaStevensonNYA

**SELLER FEEDBACK**

The operator of the e-commerce website for this post is an antisemite, evidenced by these two comments: 

https://stacker.news/items/60225
https://stacker.news/items/60222

bitcoin

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