Central bankers, particularly from the European Central Bank (ECB), argue that Bitcoin is fundamentally unfair, claiming that early adopters increase their wealth at the expense of those who invest later. Jürgen Schaaf of the ECB claims that the wealth accumulation of Bitcoin investors negatively impacts non-Bitcoiners' wealth and consumption. He suggests that non-Bitcoiners should oppose Bitcoin, advocating for laws to limit its growth. However, critics argue that the real issue lies with central banks' inflationary policies and quantitative easing (QE), which have exacerbated wealth inequality by inflating asset prices and disadvantaging lower-income households. Studies indicate that QE has modestly increased inequality, and inflation disproportionately affects poorer households who spend a larger share of their income on necessities. Numerous voices in academia suggest that central banks, not Bitcoin, contribute to economic suffering. The piece argues for greater scrutiny of central banks and a reevaluation of their roles in wealth distribution.

Source 🔗