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ECB economist: Bitcoin could exacerbate poverty among latecomers and non-holders
The European Central Bank (ECB) economists Ulrich Bindseil and Jürgen Schaaf published a paper last week titled "The Distributional Consequences of Bitcoin." They argue that Bitcoin's rise is enriching early adopters at the expense of society. Bitcoin's speculative growth, they argue, has led to a redistribution of wealth, with early investors profiting, while non-holders and latecomers becoming poorer. Economists warn that this...
2024-10-21 02:43:19
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