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Major economists in Estonia and Israel called the bitcoin "speculative bubble"

A member of the Board of Governors of the European Central Bank (ECB) and the head of the Bank of Estonia, Ardo Hansson, and the head of the National Economic Council of Israel, Avi Simhon, predicted that Bitcoin would inevitably collapse.
According to Bloomberg, Hansson called digital currencies "complete nonsense," and the fall of Bitcoin - "the destruction of the bubble."
"In a few years we will be surprised how we could believe in such a fairy tale," said the Estonian economist.
In his opinion, in the current situation, financial regulators should direct their attention to the issue of protecting cryptocurrency investors, since digital assets can be used for illegal activities and help to undermine financial stability.
Avi Simhon did say that in the future, Bitcoin is waiting for a complete disappearance, writes Cointelegraph.
Simhon explained his opinion about the speculative nature of the first cryptocurrency by the fact that for a large number of transactions it will be necessary to contain a huge amount of equipment, and the cost of electricity will reach "several trillion dollars."
"With printing presses, there is no such problem," he added.
However, the Israeli economist did not rule out that in the future states could issue their own digital money controlled by central banks, but they would have nothing to do with decentralized cryptocurrencies.