European Central Bank Says ‘Bitcoin is Rarely Used for Legal Transactions’, This On-Chain Data Suggests Otherwise

Bitcoin (BTC) will soon embark on “a journey to irrelevance,” and is mostly used for illegal purposes, the European Central Bank (ECB) has claimed. But according to one on-chain expert, the claim does not hold water. Writing in a blog post published on Wednesday, the ECB said “bitcoin is rarely used for legal transactions,” and called the network “cumbersome, slow and expensive” to make payments on.... Read More: European Central Bank Says ‘Bitcoin is Rarely Used for Legal Transactions’, This On-Chain Data Suggests Otherwise