“Bitcoin is the evil spawn of the financial crisis,” that’s how a member of the Executive Board of the European Central Bank (ECB), Benoît Cœuré, has described bitcoin at the Economics of Payments IX conference, Basel, 15 November 2018. However, one way or another, big financial institutions like Goldman Sachs and Morgan Stanley have earlier admitted that bitcoin is a new investment class and that their clients were insisting on investing in it.
Cœuré paid attention to the fact that during the Lehman (before filing for bankruptcy in 2008, was the fourth-largest investment bank in the U.S.) failure the domain bitcoin.org was first registered and that was the time when “Satoshi Nakamoto” published the very first bitcoin’s white paper.
Although the representative of ECB was negative about bitcoin, he highlighted that the technology behind Bitcoin was “an extremely clever idea.”
Earlier, the ECB’s president Mario Draghi told the European Parliament that the Central Bank needs the technology that digital currencies are based upon to develop still more than it has before they will deem crypto fit for implementation.
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