Bitcoin veteran Tuur Demeester has raised concerns over a recent European Central Bank (ECB) paper that he believes is a “declaration of war” on the leading cryptocurrency.
The ECB’s research suggests that Bitcoin has deviated from the original vision of its creator, Satoshi Nakamoto, and now primarily serves to exploit value from latecomers and individuals who do not hold the digital asset.
The authors of the ECB paper are advocating for the public to pressure lawmakers to enact regulations that would effectively make Bitcoin “disappear.”
Demeester, who serves as the editor-in-chief of Adamant Research, a Bitcoin analysis firm, anticipates that government entities will leverage the ECB’s argument to impose taxes or restrictions on Bitcoin.
“In all my years observing the Bitcoin ecosystem, this is the most aggressive stance taken by authorities. The situation has escalated. It is evident that central bank economists now view Bitcoin as a significant threat, warranting aggressive measures to combat it.
Many of us had foreseen this development: Bitcoin becoming a pivotal issue in national and global political landscapes. And now, it has materialized. This underscores the necessity for Bitcoin holders to assert their rights to property ownership.
This will not simply be a battle between the affluent and less fortunate. Instead, it will symbolize a monumental clash between advocates of individual rights and proponents of outdated collectivist and centrally planned ideologies.”
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Image Credit: Midjourney