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ECB Paper Is A ‘Declaration Of War’ Against Bitcoin, Warns Expert
- Prominent analyst Tuur Demeester has labeled the ECB’s new publication as a “true declaration of war” against Bitcoin.
- The authors of the paper addressed BTC's appreciative value against the economy's productive capacity.
- Tuur Demeester, a long-time BTC analyst and board member at the Texas Bitcoin Foundation, has been at the forefront of this backlash.
- Rather than praising Bitcoin as a tech paradigm shift à la petroleum and the internet, the authors introduce the luddite argument that 'early adopters' increase their real wealth and consumption at the expense of latecomers.
- Demeester condemns the ECB for what he sees as an aggressive and unfounded approach to regulating BTC, arguing that such measures are indicative of a broader agenda to undermine decentralized financial systems.
- Marc van der Chijs, a Dutch global investor, echoes Demeester’s concerns, highlighting a series of regulatory measures across Europe that are increasingly hostile towards investors.
- Dennis Porter, CEO and co-founder of Satoshi Act Fund, announced plans to formulate a comprehensive rebuttal for ECB's contentious publication.
- Porter confirmed that multiple co-authors are contributing to the rebuttal paper.
- BTC traded at $69,005 at the time of publication.
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