Bitcoin criticized by politicians - will it help?

1 min reading

Bitcoin, despite its uncertain future and decentralized character, is still a popular topic. Politicians at the highest levels, led by the American president, became interested in it.

Bitcoin strongly criticized

Donald Trump has criticized Bitcoin in his Twitter post. He stated that cryptocurrencies are not real money, their value is definitely too uncertain, and very often their application involves breaking the law. The fact is that in the last week there was a hearing in the Congress about Libra, Facebook's cryptocurrency. Both of these events contributed to the fact that Bitcoin and other altcoins started to fall sharply in the markets. Many politicians consistently expressed their critical opinions, and investors on Wall Street underwent considerable panic at the same time. Nevertheless, Bitcoin quickly managed to climb back up. Its growth over $10 000 could be seen on Wednesday, July 17th.

A positive trend?

Therefore, the thesis of Tim Draper, a well-known real estate investor, who believes that Bitcoin's criticism from politicians is a positive signal seems to be interesting.
It's good that people talk about it. The more they do it, the more they realize how important it will be to our world. For all of us.
Draper emphasizes the role of Bitcoin as "one of the better things that have happened to us." He explains its potential for decentralizing the world and protecting important aspects of life from bureaucracy. In his opinion, in 10-15 years, life, thanks to Bitcoin. will be much simpler. Draper, who has been supporting cryptocurrencies for over 7 years, thinks that there is no point in trying to stop Facebook from launching Libra. If politicians already have to oppose it, it would be better if they did it after it appeared on the market.