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European Central Bank Board Member Speaks About Bitcoin (BTC)


Bitcoin has been remembered for many unpleasant things by its critics

Bitcoin has been remembered for many unpleasant things by its critics. But the statement of Fabio Panetta, member of the board of directors of the European Central Bank, may be the most memorable.

In a recent interview with Panetta Financial Times, the leader described the cryptocurrency as a “very dangerous animal .”

The famous Italian economist said that Bitcoin is mainly used by criminals, noting the enormous energy consumption that became a hot topic after Tesla’s U-turn in May.

Privacy Issues

Panetta claims that the digital euro can fend off threats to the monetary sovereignty of the European Union by other cryptocurrencies .

He is also confident that central banks can better protect privacy while calling for greater cooperation than private companies:

“We have no commercial interest in storing, managing or monetizing users’ data.”

The EU’s central bank digital currency will be able to separate people’s identities from payment data. However, CBDC will only be able to offer anonymity for small payments:

“We can allow truly anonymous payments for very small amounts, but in general privacy and privacy are different from anonymity.”

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