ECB Criticizes Bitcoin's Value and Sustainability Amid Price Rally

Following the approval of spot Bitcoin ETFs in the U.S., ECB officials maintain Bitcoin's fair value is zero, citing concerns over its lack of utility and environmental impact.

European Central Bank (ECB) officials criticize Bitcoin, claiming it has failed as a currency and investment, asserting its fair value is zero.
The criticism follows the approval of spot Bitcoin ETFs in the U.S., which ECB officials argue does not alter Bitcoin's unsuitability as a payment method or investment.
ECB's stance is based on Bitcoin's lack of cash flow, dividends, productive use, and social benefit, alongside concerns of environmental damage and market manipulation.
Despite the criticism, Bitcoin has seen significant price increases, more than doubling in value over the last six months, raising questions about the ECB's perspective.
The ECB's repeated warnings against Bitcoin highlight ongoing debates about cryptocurrency's role, regulation, and sustainability in the financial system.