Government loves control and will do anything in power to keep it. Even though we live in a democracy, apart from choosing our leaders, we hardly have any control even over our own things. Remember, the money in your bank account is not yours as the bank can freeze it tomorrow, and you won’t be able to do anything about it. Think about Russia; their FOREX account has been frozen by the US because of the war. However, there is one thing that changes it all, Bitcoin. And therefore, Joe Rogan believes that The US government is scared of Bitcoin.
The US government is scared of Bitcoin
Joe Rogan is a well-known podcaster, comedian, and also UFC commentator. He recently said that Bitcoin is currently like the internet in its early days, and this makes it a concern for the government. Rogan thinks that the government never expected that Bitcoin would become a viable currency that can be used to buy things and used for payments. Even countries are starting to adopt it as legal tender (El Salvador), and now Iran has imported $10 million worth of goods by paying with cryptocurrency.
So, this means the US could try to control Bitcoin or restrict its use. However, Rogan this that they wouldn’t do so. The simple reason is the backlash and protests it will bring from the masses. And an example of a similar event was when lawmakers censored the internet in the early days and got a huge backlash.
The approach authorities will likely take and are already focusing on is to create their own crypto and pit it against Bitcoin. We already know that they are working on CBDCs. However, it is even worse than fiat and will completely kill user privacy and freedom. So, Joe believes that crypto has the potential to change the lives of people, and he hopes for their success.
Can Bitcoin replace USD?
USD is strong, and I don’t believe that Bitcoin can replace it in the next 2-3 decades. However, it can become an alternative that people use for daily payments and cross-border transactions. Countries that are not part of the SWIFT network can also use the Bitcoin network for trade and business with other nations. All in all, it has its use cases, and the market is surely going to expand with time.
What are your thoughts on Joe Rogan as he says that the US government is scared of Bitcoin? And do you think the authorities will be able to stop BTC? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Crypto bank Nuri files for insolvency: user funds are safe.