“Bitcoin is a sort of tulip. It’s indeed an instrument of speculation for those that want to bet on something that can go up and down 50% or 40% in a few days but certainly not a currency, and certainly we don’t see it as a threat to central banking or monetary policy, that’s for sure.”
Vítor Constâncio, Former ECB Vice President · Bitcoin since: +2,124%
As published by Bloomberg
ECB's Constancio Says Bitcoin Isn't a Currency, It's a Tulip ↗
A little perspective.
Bitcoin on that day$3,613September 21, 2017
$100 at that price$2,224At our latest price check
Illustrative value using a Bitcoin price of $80,335, checked Oct 29, 2026, 5:44 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Keep the receipt.
Bitcoin Is Dead. “ECB's Constancio Says Bitcoin Isn't a Currency, It's a Tulip” — Vítor Constâncio, Bloomberg, September 21, 2017. Bitcoin: $3,612.68. https://bitcoindeaths.com/posts/2017-09-21-ecbs-constancio-says-bitcoin-isnt-a-currency-its-a-tulip