Bitcoin Is on Its ‘Last Gasp’ Before Irrelevance, ECB Officials Say

Bitcoin prices may be stabilizing somewhat after a tumultuous year, but it represents just “an artificially induced last gasp before the road to irrelevance,” officials at the European Central Bank wrote in a blog post Wednesday.

While the bankruptcy of exchange FTX has been the latest blow to crypto prices, the demise of Bitcoin was “already foreseeable” before that, according to the post from ECB Director General Ulrich Bindseil and adviser Jürgen Schaaf.