Yes, while major US states are not supporting crypto and are imposing heavy capital gains tax, the state of Louisiana now commends Satoshi Nakamoto and Bitcoin. The state thanks Satoshi for his contribution to the world of finance and economic security. This move by them was actually a major step as governments do not particularly love Bitcoin. Even in the long run, the crypto industry can heavily benefit from this and become even more mainstream.
What did the state have to say to Satoshi Nakamoto?
Mark Wright from the Louisiana House of Representatives appreciated the entire crypto industry and Bitcoin too. He congratulated BTC, the creation of Nakamoto to become the first trillion dollars decentralized asset. Mark also urged the governments to make use of its technology and benefit from this as much as possible. One big statement made by the representative was Bitcoin replacing Gold as a monetary reserve. As before this, very few officials actually accepted the fact that Bitcoin is the new Gold.
He also accepted the fact that Bitcoin’s decentralized nature is secure for transitions. And it has also saved its investors from the depreciating values of traditional currency. It is obvious by now that cryptocurrency is the future, and sooner or later, governments will come around and accept it as the future of finance. After this news came out, the price of Bitcoin surged by $1000 in under 30 minutes. Even though it has been dwelling between $49k-$51k for 2 days now, the sentiment seems very positive. It’s probably best to HOLD and wait for the bulls to take control over again.
Lousiana’s own crypto!
Heck, the state also spoke about its own proprietary crypto that was developed in the state. The currency is called Moxey and allows business owners to transact among themselves without needing to spend any cash. This is a community currency and is becoming really popular there. The new currency’s creation also shows that the development of new coins will also become a common thing once crypto goes mainstream.
What are your thoughts on the price of Bitcoin rising after the US state commends Satoshi Nakamoto and Bitcoin? And do you think that the governments will soon accept BTC as a standard? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.