The recent executive order has everyone bullish on the crypto industry. It has also cleared a long-term doubt that the government could ban Bitcoin and other cryptocurrencies. Even though that does seem to be the case, for now, the government can still ban Bitcoin, says Ron Paul, Former US Congressman. His take on this was influenced by the history of Gold.
Ron Paul on crypto
Ron is a pro-bitcoin person. Even though he thinks that the government may ban it, it is not something that he would like. He recently discussed the future of Bitcoin and the effect of the Russia-Ukraine war on the economy. Both of these might go hand in hand as cryptocurrencies are meant to create a borderless world financially, while war ascertains borders. Therefore, if Bitcoin becomes too strong or out of control, then the government could give it a hard time.
“Governments over centuries have been notoriously very eager to have control of the money,” says Ron paul. And it is very unlikely that they would give up on this control so easily. It means there could still be a chance when they crackdown on Bitcoin. Paul also says that he is interested in money and the principles behind it. Therefore, an argument can be made against BTC. However, he would like to give the benefit of doubt to those who understand crypto more than him.
For now, things are bullish.
At the present moment, things look bullish for Bitcoin. With the Russia-Ukraine war, the real use cases of cryptocurrencies have come to the limelight. Plus, countries are realizing that the US has the upper hand over them due to the USD, which makes BTC even more important. Institutional adoption is rising, and a rally could just be around the corner.
Even Ron thinks that Bitcoin should be legalized and people should have the freedom to choose any currency they want.
Do you think that the government can still ban Bitcoin after the positive executive order by Biden? Or is it just a caution that investors must practice no matter what? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Coinbase gets sued for selling unregistered crypto securities.
