Bitcoin Lacks Monetary Properties and Is ‘Pure Speculation,’ Says Ex-ECB Chief

Like many representatives of the current financial system, the former European Central Bank (ECB) president is not so keen on Bitcoin. Jean-Claude Trichet dismisses cryptocurrency as “pure speculation.”

Hardly a revelation, but it turns out that those most deeply entwined with the global banking system are generally not on board with the current experiment in decentralized finance that is cryptocurrency. The latest to voice concerns about Bitcoin and other digital assets is ex-ECB president and former Bank of France governor, Jean-Claude Trichet.

Strongly Against BitcoinSpeaking in Beijing, China, at a conference hosted by local financial media outlet Caixin, Trichet said: Read More...