According to Deep Tide TechFlow, on October 23, multiple experts questioned the recent working paper (The Distributional Consequences of Bitcoin) published by the European Central Bank (ECB), which was authored by Ulrich Bindseil and Jürgen Schaaf and claims that Bitcoin exacerbates wealth inequality.

Notable figures from academia, economics, and policy, including Murray A. Rudd, Allen Farrington, Freddie New, and Dennis Porter, jointly published a rebuttal statement pointing out the biases and flaws in the ECB analysis, questioning its depiction of Bitcoin's economic and social impacts.

Dr. Murray Rudd, scientific advisor to the Satoshi Action Fund, emphasized that rebutting the ECB's conclusions is crucial to ensure that the erroneous assumptions and biases in the working paper are not overlooked, especially as it may soon undergo peer review by an academic journal.

Freddie New, the policy director of Bitcoin Policy UK, pointed out that the authors of the ECB paper failed to review the latest research and developments in the field, such as the importance of Bitcoin for activists under repressive regimes and its role in providing cheap, fast, and secure cross-border remittances.

Allen Farrington from Axiom stated that Bitcoin is clearly superior to fiat currency in fundamental monetary properties, so it is not surprising that those who benefit from the fiat currency system oppose Bitcoin. However, they often express their views by spreading misunderstandings and contradictions about Bitcoin rather than publicly stating their position, which is frustrating.