• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Binance Shocks Employees With Sudden Layoffs - What's Next For The Crypto Giant?

Stablecoins Beat Bitcoin, Says ECB Presidential Hopeful

Osato Avan-Nomayo by Osato Avan-Nomayo
4 years ago
in Bitcoin, Bitcoin Price, News, News teaser
0

Francois Villeroy de Galhau of the European Central Bank (ECB) says stablecoins hold more promise than Bitcoin. The ECB policymaker says fiat-pegged crypto will have a place in the legacy financial system.


We Prefer Fiat-Pegged Crypto

According to Bloomberg, Villeroy believes that cryptocurrencies pegged to fiat will be the ones to experience greater utility within the mainstream finance apparatus. Speaking in Paris on Tuesday (May 14, 2019), Villeroy, a frontrunner for the ECB Presidential seat opined:

The Bank of France is “observing with great interest initiatives in the private sector which aim at developing networks within which ‘stable coins’ would be used in transactions involving ‘tokenized’ securities or goods and services.” These are quite different from speculative assets like bitcoins, and more promising.

Of Course, Central Bankers Prefer Stablecoins to Bitcoin

Villeroy’s comments should come as no surprise as bankers haven’t hidden their dislike for Bitcoin and its ability to disrupt their stranglehold on global finance. The disintermediation of the payments system is in many ways an attack on their bottom-line.

Watch again: Mario Draghi answers a student’s question on cryptocurrencies #ECBYouthDialogue #GenerationEuro pic.twitter.com/5VmHr3sxNw

— European Central Bank (@ecb) May 8, 2019

Answering questions during the ECB Youth Dialogue on Wednesday (May 8, 2019), ECB President Mario Draghi described Bitcoin as not being a “real currency” but more like an asset, saying:

A euro is a euro – today, tomorrow, in a month, it’s always a euro. And the ECB is behind the euro. Who is behind the cryptocurrencies?

Draghi fails to mention that questionable monetary and fiscal policies which are often political have a negative impact on the purchasing power of fiat currency. One BTC will always be worth one BTC.

In February 2019, the U.S. Federal Reserve did a complete 180 reportedly under duress from the White House to adopt a more dovish stance. Several commentators say quantitative easing and negative interest rates will put the mainstream market on the path of another major collapse.

$2,000 in Less than Five Days

While uncertainty reigns in the mainstream market, Bitcoin continues to rise even higher, adding more than $2,000 in price value in less than a week. BTC is up more than 120 percent since the start of 2019.

This recent parabolic advance has coincided with renewed institutional interest from brokerage giants and investment firms alike. TD Ameritrade, Fidelity Investments, and E-Trade plan to debut BTC trading for institutional clients.

Bakkt on Monday (May 13, 2019) announced that it would begin testing its physically-settled BTC futures contract in the summer. The company also says it is close to obtaining the green light from the U.S. Commodity Futures Trading Commission (CFTC).

Do you agree that the banking class is running scared of Bitcoin? Let us know your thoughts in the comments below.


Images via Twitter @ecb, wikimedia.org

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Osato Avan-Nomayo

Osato Avan-Nomayo

When I am not knee-deep in cryptocurrency-related news, I am either attempting to beat my scrabble high score or internally debating an existential dilemma.

Related Posts

Bitcoin Whale Shark

Bitcoin Sharks & Whales Have Bought 93,000 BTC Since April Top: Santiment

4 days ago
Bitcoin

BREAKING: Bitcoin Mining Industry Spared From 30% Tax In US Debt Ceiling Deal

5 days ago
Bitcoin

Bitcoin Taker Buy Sell Ratio At Highest Since Feb, What Does It Mean?

5 days ago
Bitcoin

Bitcoin Shrimps Continue Aggressive Accumulation As Holdings Hit ATH

5 days ago
Bitcoin Bull

Bitcoin Bullish Signal: Exchange Netflow Registers Negative Spike

1 week ago
Bitcoin

Bitcoin “Buy The Dip” Mentality Disappears, Is Now Actually The Time To Buy?

1 week ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Now Trending

  • Whale Power Unleashed: Mooky Emerges as the Rival Meme Coin...

    2 days ago
  • Exploring the Meteoric Rise of Mooky: Could It Be the Next...

    2 days ago
  • Discover the Next Big Thing: Mooky.io Presale Boasting Fair...

    2 days ago

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit
1xBit
1xBit
K8
K8

Press Releases

  • As Polygon (MATIC) volumes soar, top analysts forecast...

    4 hours ago
  • Strategic Crypto Investments: 5 Coins to Watch in 2023

    7 hours ago
  • XRP Consultant and AI Crypto Analyst States ‘Best...

    10 hours ago
  • 6 Figures Crypto Portfolio Builder: Cosmos (ATOM)...

    12 hours ago
  • Floki Inu Trading Volume Jumps 300% in 24 Hours—Enough to...

    13 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.