Is Bitcoin growth beneficial only for early holders?

According to the latest ECB report, the continuous growth of the main cryptocurrency’s value will only benefit early adopters; the rest of the crypto community risks being left with nothing.

Economists Ulrich Bindseil and Jürgen Schaaf believe that the concept of Bitcoin as a global payment system has failed, which has led to its subsequent repositioning as an investment asset.

The report claims that latecomers can suffer damages even if we ignore the “bursting bubble” scenario. They will only benefit from driving new buyers to the market.

“The new Lamborghini, Rolex, villa, and equity portfolios by early Bitcoin investors do not stem from an increase in the economy’s production potential; rather, they are financed by diminishing consumption and wealth of those who initially do not hold Bitcoin,” the analysts point out.

Cryptocurrency enthusiast Tuur Demeester criticized the report, calling it “a true declaration of war.”

“Many of us have warned that this was coming: Bitcoin as a major political fault line both in national and international elections. Well here it is. It means that us HODLers must take action to insure that governments respect our basic right to hold property,” Demeester summarized.