ECB paper claims older Bitcoin holders are exploiting new holders.

Since its introduction in 1999, the euro has lost approximately 85% of its value against gold due to monetary inflation.
 https://image.nostr.build/26c21496b0e1c8b8327d6120ad83d7844e3de0c7c5318dbb268bc3855264ea23.jpg 
*First page of ECB paper. Source: European Central Bank, SSRN.*