Crypto CEOs Agree: “No One Controls the BTC Network”

BTC as an inflation hedge? Verena Ross is not convinced

Bear market or not: Many crypto fans still regard BTC and the crypto market as protection against inflation. While the US dollar, euro and the like are losing purchasing power at an alarming rate, BTC in particular is becoming more valuable over time. It won’t be difficult to find someone who says, “I wish I had bought (more) BTC four years ago.” Meanwhile, if you keep your money in the bank, you can literally see it becoming less valuable. For Bitcoiners, the thing is clear: the cryptocurrency protects against inflation, even if it collapses in the double digits in the short term.

Verena Ross, chairwoman of the European Securities Authority, sees the whole thing a little more critically. She warns that smoldering inflation could push more and more people to invest in BTC and other high-risk assets. A reason for Ross to demand regulatory clarity. Like Bloomberg reported, according to its own statements, it can hardly wait for the EU to publish a template for uniform crypto regulation.

As inflation rises, investors will look for investments that compensate for inflation and generate greater returns. This could also lead to higher risk. This is something we are closely monitoring.

Verena Ross

“No one controls the BTC network”

Whether or not this is a reaction to Ross’ statement: Changpeng Zhao, CEO of the crypto exchange binance makes a clear statement about the control options of the BTC network:

Nobody controls the BTC network.

Changpeng Zhao, CEO binance