The European Central Bank (ECB) remains unconvinced about Bitcoin's intrinsic worth. Despite the recent surge in Bitcoin's price and the US approval of spot Bitcoin ETFs, Two European Central Bank officials are doubling down on their criticism. Ulrich Bindseil and another ECB official maintain that the fair value of Bitcoin is still zero. Their stance reflects skepticism that Bitcoin has become a viable, decentralized global currency.

European Central Bank Says Bitcoin Fair Value is Still Zero: What Does it Mean?

The European Central Bank's advisors have reiterated their negative assessment of Bitcoin, arguing that it has failed to establish itself as a truly global and decentralized cryptocurrency. This comes despite the significant event of US approval for spot Bitcoin exchange-traded funds. Officials of the European Central Bank (ECB) are not convinced that Bitcoin (BTC) is a valuable financial asset, even with this increased accessibility in the US market.

The core of the ECB's argument rests on the belief that Bitcoin is still a pernicious phenomenon with no intrinsic value despite its US approval as an asset for inclusion in Exchange-Traded Funds. This perspective highlights a continuing divide between some financial institutions and the growing acceptance of Bitcoin as an investment vehicle. The Two European Central Bank officials' statement underscores a fundamental disagreement on the long-term viability and stability of Bitcoin as an asset class.

While some see the US ETF approval as a sign of mainstream acceptance, the European Central Bank's continued skepticism serves as a reminder of the risks and uncertainties associated with Bitcoin. The ECB's view is that the perceived value is speculative, and the fair value of Bitcoin remains zero, according to these officials.