Bitcoin is embraced by many countries across the world, especially after the historical announcement by El Salvador to adopt bitcoin as legal tender.
The sudden plunge in the currency on the weekend troubled Hasekamp and he announced that it is high time that the country should ban the currency to avoid any further damage to the economy.
Where many countries like El Salvador are embracing the cryptocurrency with all their hearts, and the countries like India who have had a change of heart towards the currency recently, and planning to adopt the cryptocurrency as an asset class, At the same time other countries in Europe are stepping ahead to ban the currency due to its Disadvantages.
The Essay published by Hasekamp was titled “ The Netherlands must ban bitcoin” and he mentioned all the logic behind his negative statement towards the currency in detail.
According to Hasekamp, who is an expert at the economic analysis and forecasts and is officially hired by the Ministry of Economic Affairs in the Netherlands, There are three roles of money, Means of Payment, Unit of Account, and the store of value, and bitcoin failed on these three standards terribly.