Golden Finance reported that European Central Bank (ECB) economists Ulrich Bindseil and Jürgen Schaaf published a paper last week titled "The Distribution Consequences of Bitcoin". They believe that the rise of Bitcoin is enriching early adopters at the expense of society. They believe that the speculative growth of Bitcoin has led to wealth redistribution, with early investors profiting while non-holders and latecomers have become poorer. Economists warn that this dynamic could undermine social stability, deepen inequality, and threaten democracy itself. They claim that the economic impact of Bitcoin is a zero-sum game.