Hodler's Digest, July 1-8: Finland Calls Bitcoin a 'Fallacy,' While EU Warns Against BTC Pessimists Like Robert Shiller

The Hodler's Digest will help you to track every single important news story that happened this week.

The best quotes, adoption and regulation highlights, leading coins, predictions, and much more - a week on Cointelegraph in one link.

The crypto-positive reports specifically mentions Nobel prize winning economist Robert Shiller, calling those who refer to crypto as a utopia or mania "Mistaken." The report notes that crypto global transaction network are "Relatively safe, transparent, and fast," although it does add that virtual currencies pose a problem to financial regulators due to their "Anonymity and trans-border nature."

A scathing report on cryptocurrencies released by the Bank of Finland this week attempts to explain why cryptocurrencies and digital ledger technology are "Accounting systems for non-existent assets" and "Unrelated to the fundamental characteristics of money." The author then goes on to compare the desire to buy cryptocurrencies with the same "Intangible value" as buying toys or firearms, noting that other reasons include criminal activities and security against "Real or imagined" state oppression.

SIX, Switzerland's principal stock exchange, announced this week that it will open a "Fully-regulated" cryptocurrency against using digital ledger technology next year.

The crypto markets are slowly creeping up this week, with Bitcoin at and Ethereum.

The top three altcoin gainers of the week are Tezos, DigiByte and Bitcoin Diamond.

The head of the Bank of International Settlements said in an article this week that Bitcoin "cannot assume the functions of money.

Indian Opposition Party Official Calls For Probe Into "Mega Bitcoin Scam".An official from the Indian National Congress, an opposition party, has asked for a probe into a cryptocurrency scam allegedly involving the leaders of the majority Bharatiya Janata Party.

Prediction Of The WeekFundstrat's Tom Lee Predicts BTC Could Hit Between $22,000-$25,000 By Year's End.Tom Lee of Fundstrat said in two interviews this week that Bitcoin's price could be trading anywhere between $22,000 and $25,000 by the end of the year.