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 <p class="paragraph">Slightly over a week after the European Central Bank (ECB) experts slammed Bitcoin (BTC) and cryptocurrencies as speculative, <a rel="noopener noreferrer nofollow" title="worthless" href="https://thebittimes.com/tag/worthless.html">worthless</a>, and a tool for criminal activities, warning of its “social dangers,” the flagship decentralized finance (DeFi) asset is still rallying and nearing its all-time high (ATH).</p>
 <p class="paragraph">As it happens, ECB’s director general of market infrastructure and payments, Ulrich Bindseil, and Jürgen Schaaf, an adviser for market infrastructure and payments, wrote that the “fair value of Bitcoin is still zero” in a blog post titled <em>“ETF approval for Bitcoin – the naked emperor’s new clothes”</em> on February 22.</p>
 <p class="paragraph">In their view, the January approval of spot Bitcoin exchange-traded funds (ETFs) by the United States Securities and Exchange Commission (SEC) did not mean that BTC investments were safe and the “collateral damage” from the recent Bitcoin price boom “will be massive.” As they wrote:</p>
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   <svg width="32" height="32" viewbox="0 0 32 32" fill="none" xmlns="//www.w3.org/2000/svg"><path d="M4 10.6665V25.3332C4 28.2678 6.392 29.3332 8 29.3332H28V26.6665H8.016C7.4 26.6505 6.66667 26.4078 6.66667 25.3332C6.66667 24.2585 7.4 24.0158 8.016 23.9998H28V5.33317C28 3.8625 26.804 2.6665 25.3333 2.6665H8C6.392 2.6665 4 3.73184 4 6.6665V10.6665ZM8 5.33317H25.3333V21.3332H6.66667V6.6665C6.66667 5.59184 7.4 5.34917 8 5.33317Z" fill="#EF4444"> 
    </path> <path d="M15.996 18.6668L20.4626 14.2815C20.738 14.0166 20.9571 13.6989 21.1068 13.3473C21.2564 12.9957 21.3336 12.6176 21.3336 12.2355C21.3336 11.8534 21.2564 11.4752 21.1068 11.1236C20.9571 10.7721 20.738 10.4543 20.4626 10.1895C19.9074 9.64148 19.1587 9.33422 18.3786 9.33422C17.5985 9.33422 16.8498 9.64148 16.2946 10.1895L15.996 10.4801L15.6973 10.1881C15.1423 9.64023 14.3938 9.33301 13.614 9.33301C12.8341 9.33301 12.0856 9.64023 11.5306 10.1881C11.2552 10.453 11.0361 10.7707 10.8865 11.1223C10.7368 11.4739 10.6597 11.852 10.6597 12.2341C10.6597 12.6162 10.7368 12.9944 10.8865 13.346C11.0361 13.6975 11.2552 14.0153 11.5306 14.2801L15.996 18.6668Z" fill="#EF4444"> 
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  <p class="paragraph">“Today, Bitcoin transactions are still inconvenient, slow, and costly. Outside the darknet, the hidden part of the internet used for criminal activities, it is hardly used for payments at all.”</p>
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 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2>
 <p class="paragraph">However, the “dead cat,” as Bindseil and Schaaf referred to the maiden crypto asset, is “bouncing so high,” as they themselves noted, attributing the rally to “temporary factors” and “price manipulation and other types of fraud,” and has gained 29.51% from the $51,645 when their blog post went live.</p>
 <p class="paragraph">Indeed, at press time, Bitcoin was changing hands at the price of $66,886, which represents an increase of 2.62% on the day, as well as an advance of 18.08% across the week, adding up to the monthly growth of 55.76%, according to the most recent chart data.</p>
 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/03/05/a418d7d77d9219102b30203f328d7e92.webp" alt class="wp-image-158795" srcset="https://cdn.thebittimes.com/images/2024/03/05/a418d7d77d9219102b30203f328d7e92.webp 1200w, https://cdn.thebittimes.com/images/2024/03/05/a418d7d77d9219102b30203f328d7e92.webp 300w, https://cdn.thebittimes.com/images/2024/03/05/a418d7d77d9219102b30203f328d7e92.webp 1024w, https://cdn.thebittimes.com/images/2024/03/05/a418d7d77d9219102b30203f328d7e92.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Bitcoin 30-day price chart. Source: </em><em>Finbold</em>
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 <p class="paragraph">Meanwhile, it is also <a rel="noopener noreferrer nofollow" title="worth" href="https://thebittimes.com/tag/worth.html">worth</a> mentioning that, ironically for the ECB, Bitcoin has already hit its all-time high in euros (EUR), as it reached the price of €63,417.67 today and is currently trading at €61,828.59, as per the latest information retrieved on March 5.</p>
 <figure class="wp-block-image"><img decoding="async" width="882" height="478" src="https://cdn.thebittimes.com/images/2024/03/05/79b06c45139b05853936683d69f7307f.webp" alt class="wp-image-158794" srcset="https://cdn.thebittimes.com/images/2024/03/05/79b06c45139b05853936683d69f7307f.webp 882w, https://cdn.thebittimes.com/images/2024/03/05/79b06c45139b05853936683d69f7307f.webp 300w, https://cdn.thebittimes.com/images/2024/03/05/79b06c45139b05853936683d69f7307f.webp 768w" sizes="(max-width: 882px) 100vw, 882px">
  <figcaption class="wp-element-caption"><em>Bitcoin price in EUR 30-day price chart. Source: </em><em>Google Finance</em>
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 </figure>
 <p class="paragraph">On top of that, the crypto community on social platform X was quick to point out that the son of ECB president Christine Lagarde had invested in crypto assets himself, for which his mother chastised him during the crypto winter back in November 2023 in an ‘I told you so’ manner.</p>
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   <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
    <p lang="en" dir="ltr">Live view of the son pic.twitter.com/EAliLbWnFs</p>— Rizzo (@pete_rizzo_) March 4, 2024
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 <p class="paragraph">As a reminder, Lagarde said her son had “ignored me royally” and “lost almost all the money that he had invested” in crypto assets, or specifically “about 60% of it,” as she reiterated her criticism, adding she had a “very low opinion of cryptos,” as Reuters reported on November 24, 2023.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/here-s-how-much-bitcoin-is-up-since-ecb-dismissed-it-as-worthless-tbt81637.html">https://thebittimes.com/here-s-how-much-bitcoin-is-up-since-ecb-dismissed-it-as-worthless-tbt81637.html</a></p>

Here’s how much Bitcoin is up since ECB dismissed it as ‘worthless’

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