Bitcoin (BTC) Is “Evil Spawn” of 2008 Crisis, Says ECB Official

Bitcoin (BTC) has received another negative assessment from central bankers, this time Benoît Cœuré of the European Central Bank (ECB) executive board calling the original cryptocurrency “the evil spawn of the financial crisis,” the Financial Times reports.

The Bitcoin network launched just as the 2008 crisis was spreading through the markets, and central banks increased liquidity to stave off a global recession. These institutions can alter the money supply to encourage or discourage consumption. Bitcoin, however, was a fixed-supply currency, with an incentive to save instead of spend.

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This article appeared first on Cryptovest

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