Bitcoin ‘rarely’ used for legal transactions, on ‘road to irrelevance’, say European Central Bank officials

European Central Bank officials alleged on Wednesday that bitcoin is “rarely used for legal transactions,” is fuelled by speculation and the recent erosion in its value indicates that it is on the “road to irrelevance,” in a series of stringent criticism (bereft of strong data points) of the cryptocurrency industry as they urged regulators to not lend legitimacy to digital tokens in the name of innovation.
The value of bitcoin recently finding stability at around $20,000 was “an artificially induced last gasp before the road to irrelevance – and this was already foreseeable before FTX we

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