Central Banks Plotting to Weaken Bitcoin, Claims Climate Activist
Daniel Batten, managing partner at CH4 Capital and a noted climate activist for The Bitcoin ESG Forecast, has revealed research suggesting that Central Banks, particularly in the European Union (EU), are actively working to undermine BTC’s influence and reputation.
Batten shared his findings on X (formerly Twitter), stating that the European Commission, through ESMA and ECB, is developing a report that will label Bitcoin as environmentally harmful, a threat to EU energy security, and a haven for financial criminals. This report could pave the way for de facto bans on BTC and BTC mining in the EU by 2025.
Global Implications of European Commission’s Strategy
Batten believes that this move by the European Commission is part of a larger plan with global implications. ESMA, in collaboration with the ECB, intends to promote this report as the standard in other nations once it is accepted within the EU.
The Fear of Decentralization
Batten draws parallels between the current situation and the aftermath of the Global Financial Crisis (GFC), suggesting that Central Banks fear Bitcoin’s potential to decentralize financial systems. He claims that Central Bankers realized during the GFC that their system had been transferring wealth from the poor to the rich for generations.
Strategic Use of Environmental Concerns
The research points out that Central Banks are strategically using environmental concerns as their primary attack vector against Bitcoin. Batten argues that the claim that “Bitcoin is bad for the environment” is false, but it has shaped public perception and policy towards BTC.
Influence of Ripple Founder and Institutional Support
Batten highlights Ripple Founder Chris Larsen’s involvement in anti-Bitcoin campaigns as an example of the intertwined interests between traditional financial players and digital currency policies. He also mentions that BTC has gained support from institutions like KPMG and BlackRock, contradicting the narrative pushed by central banks.
The Battle Continues
Despite the efforts of Central Banks, BTC has shown resilience. Batten acknowledges that Bitcoin’s rally after the ECB’s negative outlook on it last year was unexpected. He urges support for organizations actively engaging with regulatory bodies and combating misinformation to shape a future where digital currencies can thrive.
Hot Take: Central Banks’ Attempt to Undermine Bitcoin
Daniel Batten, a climate activist, claims that Central Banks, particularly in the EU, are working to weaken Bitcoin’s influence and reputation. The European Commission is reportedly developing a report labeling Bitcoin as environmentally harmful and a haven for financial criminals. This could lead to de facto bans on BTC in the EU by 2025. Batten believes this strategy has global implications, with other nations likely to adopt these standards. Central Banks fear Bitcoin’s potential to decentralize financial systems. They strategically use environmental concerns as an attack vector against BTC. Despite their efforts, BTC has shown resilience and gained support from institutions. Batten calls for support of organizations fighting misinformation and shaping a future where digital currencies can thrive.
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