“For disciples, the formal approval confirms that Bitcoin investments are safe and the preceding rally is proof of an unstoppable triumph. We disagree with both claims and reiterate that the fair value of Bitcoin is still zero.”
Ulrich Bindseil, Director General of Market Infrastructure and Payments, European Central Bank · Bitcoin since: +54%
As published by ECB
ETF Approval For Bitcoin – The Naked Emperor’S New Clothes ↗
A little perspective.
Bitcoin on that day$51,303February 22, 2024
$100 at that price$153.62At our latest price check
Illustrative value using a Bitcoin price of $78,811, checked Oct 29, 2026, 11:14 PM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Ulrich Bindseil appears in 2 recorded obituaries. 10 declarations were recorded in 2024.
Keep the receipt.
Bitcoin Is Dead. “ETF Approval For Bitcoin – The Naked Emperor’S New Clothes” — Ulrich Bindseil, ECB, February 22, 2024. Bitcoin: $51,302.7. https://bitcoindeaths.com/posts/2024-02-22-etf-approval-for-bitcoin-the-naked-emperors-new-clothes