Bitcoin, according to ECB Directors, is on the ” path to irrelevance.” I have watched the upward trend as it surpassed $17,000 on Wednesday, a two-week high for the world’s largest digital currency.
For me, these words are relevant, as the crypto sector is still recovering from one of its most devastating catastrophes in recent history, the demise of FTX, a once-valuable exchange worth $32 billion. Some have argued the collapse of FTX will likely hasten the regulation of digital currencies.
This was an ignominious excursion planned by a criminally inclined young guy named Sam Blake Man Fried. In May, ECB President Christine Lagarde stated that cryptocurrencies are ” completely useless ” and voiced her disapproval of bitcoin because of its lack of eco-credentials.
Actions have consequences and many are widespread.
For generations to come, the name “SBF” will be on the roll call of persons who were responsible for destroying the world’s financial balance.
