Hester Peirce: Banning Bitcoin would be foolish on the part of the United States

Hester Peirce: Banning Bitcoin would be foolish by the US - 5D8D8B51CCFCCA4D0852FA76F1C73130E98A809272D1D58BF94D49F621C78334 1024x538Hester Peirce, the so-called “Crypto Mom”, recently spoke out on an issue that has caused a lot of discussion in recent times; or the possibility that the United States bans Bitcoins.

Speaking to “MarketWatch Investing in Cryptocurrency event series” Peirce said: “I think we got past that point very soon because you should have shut down the internet. I don't see how you [the US government] could ban it. You could certainly make the effort and say it's not allowed here, but people would still be able to use it. So I think it would be a foolish move for the government to try to do that. "

All in favor of BTC, but what are the US doing?

During the week, the debate over whether Bitcoin could be outlawed by the US government intensified. Especially when billionaire Ray Dalio made the point. Dalio, despite being one of the few fintech billionaires to take the risk and advertise the value of BTC against the US dollar, noted that the US may close its doors to Bitcoin in the future.

Of course, this wouldn't be easy, Dalio noted, as he explained that gold, the metal store of value that is currently loved by many and often compared to Bitcoin, also suffered the same fate years ago. The bone of contention, which makes sense to many other Bitcoiners, is that Bitcoin could pose a threat to the USD when it begins to outperform it in the coming years. Theoretically, expecting Bitcoin to outpace the USD is a valid argument, as inflation is already forcing US residents to protect their wealth elsewhere.

Banning him would be a real mistake

Tyler Winklevoss, one of the Winklevoss twins who recently made the Forbes list as one of the top Crypto billionaires, refuses to accept that Bitcoin can be banned by the US government. His point of view is quite simple: the SEC has already crossed its T's and dotted its I. As such, Bitcoin has passed the "test and consideration phase" and is now able to function barrier-free in the country. .

Michael Saylor, the head of MicroStrategy, who also joined Forbes Crypto's Top 10 Billionaires list, is quite convinced that Bitcoin is simply too big to be banned. This school of thought is not uncommon in the Crypto-Community. Surely with big names like Elon Musk buying a big chunk of the asset, it's not inaccurate to suggest that institutional hands have somehow created a safety net for the asset.

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