The ECB stated that Bitcoin is neither suitable as a payment system nor as a form of investment, so it should be considered unsuitable in terms of regulation and therefore should not be legalized.
The financial industry should be wary of the long-term damage of promoting bitcoin BTC 1.89% investments despite their short-term profits.
Should Bitcoin investors further lose money, the negative impact on customer relationships and the reputational damage to the industry as a whole could be enormous.