European Bitcoin Record Volumes Despite Warning – Bitcoin Magazine


Relai, a Swiss company that provides a non-custodial bitcoin wallet app, has reported that November 2022 was its best month in terms of volume and revenue. According to a press release sent to Bitcoin Magazine, the app saw an increase of 60% compared to the previous month of October 2022.

The company also reports that November 2022 was its best month for both active users and new users, saying that more people downloaded the app in November than in September and October combined.

Simultaneously, the director general of market infrastructure and payments at the European Central Bank and an advisor released an article on November 30 titled “Bitcoin’s Last Stand,” that described Bitcoin as on the “road to irrelevance.” The paper criticized the investment thesis of bitcoin, the technology’s importance and its relevance as a payments mechanism. This stance isn’t necessarily new as the ECB has expressed its contempt for Bitcoin before.

In response to this and the recent data, CEO and Co-Founder of Relai Julian Liniger said, “If Bitcoin is doomed to fail, why is the ECB spending so much effort attacking it over and over? To me, it seems that it boils down to either not understanding Bitcoin and mixing it up with ‘crypto,’ or that the ECB in fact understands and fears it. Looking at our numbers and the positive long-term sentiment in the Bitcoin community shows that the ECB is just out of touch with what is happening in the real world. In fact, the ECB is on the road to irrelevance and Bitcoin is just getting started.”

#European #Bitcoin #Record #Volumes #Warning #Bitcoin #Magazine


Related Posts

South Korea to examine crypto staking services following the Kraken case

[ad_1] As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to…

Elon Musk Hints At New Twitter CEO At End-2023, Causes FLOKI To Skyrocket 45%

[ad_1] Elon Musk announced in December of last year that he will step down as CEO of Twitter once a replacement is found, but will continue to…

Bitcoin eyeing ‘next big move’ which could see $19K retest — analyst

[ad_1] Bitcoin (BTC) is headed to either $28,000 or $19,000 and this week could decide all, fresh analysis says. In Twitter comments on Feb. 15, popular trader…

Messari Analyst Reveals Why Polygon Is Set For Steady Growth

[ad_1] Through his tweet today, Messari analyst Tom Dunleavy singled out Polygon as a top-performing crypto asset and further described traits that set the cryptocurrency for further…

Sequoia Capital, Paradigm among VCs facing ‘tricky’ FTX investor lawsuit

[ad_1] Users of bankrupt crypto exchange FTX have reportedly taken aim at financiers who promoted the platform suggesting their efforts added an “air of legitimacy” to the…

Sen. Warren vows reintroduction of AML bill that extends to DAOs and DeFi

[ad_1] A bi-partisan anti-money laundering (AML) bill that covers “decentralized entities” such as decentralized finance (DeFi) protocols and DAOs will soon be reintroduced to Congress, according to…

Leave a Reply

Your email address will not be published. Required fields are marked *