Discover 2 opportunities in Ulrich Bindseil

Frankfurt School of Finance & Management welcomes Professor Ulrich Bindseil from Technische Universität Berlin to bolster its Centres for Digital Economics and Central Banking from September 1, 2026. Bindseil, an expert in central banking and financial infrastructures, will enhance research and education, focusing on payments and monetary innovations like stablecoins and digital currencies.

We examine the redistributive effects of Bitcoin in a theoretical scenario where its price continuously appreciates. Early adopters benefit from rising consumption and asset accumulation at the expense of later investors, who fund Bitcoin purchases by liquidating real assets and reducing their consumption. The analysis reveals that even in the absence of a crash, Bitcoin causes wealth redistribution that enriches early investors while reducing the real wealth and purchasing power of non-holders and latecomers. This dynamic, if unaddressed, risks eroding societal cohesion. Amid a record high market capitalization of USD 1.8 trillion following the 2024 election in the USA, this risk is higher than ever.