European Central Bank: Bitcoin worsens wealth inequality and legislation is needed to limit its rise

The European Central Bank (ECB) has called for legislation to be enacted to limit the rise in the price of Bitcoin. According to reports, the ECB has issued a report entitled “Bitcoin
"Rising prices have the potential to exacerbate wealth inequality," he said. "To mitigate this risk, legislation must be put in place to prevent price increases."
In relation to this, Ulrich Windseil and Jurgen Schaff, economists at the European Central Bank, said, "Bitcoin is like gold; its value will increase over time.
"It is likely that Bitcoin will grow in value, but it is expected to have little social benefit," he said, warning that "even if the price of Bitcoin continues to rise, the relative poverty of latecomers will likely weaken."
He continued, "If legislation to curb the rise in the price of Bitcoin is not enacted, politicians who advocate pro-cryptocurrency policies and mislead people about wealth redistribution will exacerbate social division."
He emphasized.