How These 3 European Central Banks Are Working To Undermine Bitcoin

The European Union is preparing laws and regulations that could be the equivalent of a ban on Bitcoin by 2025. In addition, the European Central Bank (ECB) is leading the effort with support from two other major banks.

On January 31, Bitcoin environmentalist and venture capitalist Daniel Batten reported that the Bank of International Settlements (BIS) and the Dutch Central Bank (DNB) are working with the ECB on crypto crypto .

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How 3 EU Central Banks Are Working To Weaken Bitcoin

What action did each of them take?

What are their next moves?

What should we do?

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— Daniel Batten (@DSBatten) January 31, 2024

Central Bank Bitcoin Angst

Batten in 2010. During the global financial crisis of 2008, people realized that central banks were the source of injustice in the financial system. This concept was realized by his pseudonymous Satoshi Nakamoto, who created Bitcoin in response.

Stella Assange calls Bitcoin “The Real Occupy Wall St” in 2022 in a move that threatens central banks more than they let on.

“Central banks now know they can't kill Bitcoin. Their strategy is to undermine CBDCs until they catch up.”

He reported that the ECB's approach was to bully bitcoin until 2018, after which it “moved into a fight mode”.

The main attack vector has been spreading FUD that Bitcoin is bad for the environment. This is an untrue fact that is debunked by facts and science, because BTC can be useful for power grids and is using renewable energy more than ever before.

These three big banks have been working together to achieve this goal. The BIS has used its influence with world leaders to create a report for the G20, arguing that Bitcoin poses a threat to financial security.

The ECB leveraged its relationship with ESMA (European Securities and Markets Association), which is empowered to assess Bitcoin's risk to the environment and EU energy security.

Finally, DNB noted that if Bitcoin mining is an environmental threat, both the public and regulators may oppose it, using one employee, Alex de Vries.

Why do banks hate Bitcoin?

Banks are against decentralized digital assets because they are a threat to their profit models. A bank primarily makes a profit by lending money to other people, so a peer-to-peer money network removes this lucrative ‘middleman', allowing users to transact directly at a fraction of the cost.

Bitcoin and crypto also remove the ever-increasing level of restrictions on what people can do with their own money by freeing them from the control and oversight that banks and governments have over people's finances.

“Central banks are a powerful network of power, regulation and continuity of finance,” Batten said.

CBCCs extend this level of control and can be used to monitor or control people's spending on their environmental or carbon footprint.

Therefore, Bitcoin is the biggest threat to central banks, which in turn is the biggest threat to your financial freedom.