The European Central Bank Criticizes Bitcoin: What Can the Community Do?

Along with the recent failures of FTX and BlockFi, authorities and politicians throughout the world, including the United States, are calling for more crypto laws. The European Central Bank (ECB) tweeted earlier today to distribute a blog piece headlined "Bitcoin's Last Stand." The post criticizes Bitcoin, claiming that it is "rarely utilized for legitimate transactions" and that promoting Bitcoin may undermine banks' reputations. It only highlighted the problems rather than giving a whole picture of the cryptocurrency's history up to this point, which would have covered both the positive and negative aspects of the situation.

American entrepreneur Michael Saylor on the other hand defended crypto saying: 

Bitcoin is driving the digital transformation of money and banking. It is already an order of magnitude more efficient than traditional finance systems based on 20th century analog technology, and growing exponentially smarter, faster, & more efficient (36%+) each year.

What are your thoughts on Cryptocurrency? Check out the full article at MEXC for more details.

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