Tyler Winklevoss does not believe that the United States can at some point close its doors in the face of Bitcoin. He made it known in a recent post on Twitter, in which he explained that the process of reviewing the structure of Bitcoin as an asset has already been carried out by the authorities. Tyler Winklevoss doesn't believe there is anything else the government will do about it, which means the cross-check work has been done and completed.
As he writes on his Twitter profile
“The US government will never ban Bitcoin. These questions have never been asked to regulators and courts in the past decade and therefore have never been answered. The ship has sailed ”.
Tyler Winklevoss's beliefs are enough different from those of billionaire Ray Dalio, which recently flooded Twitter saying it believes the government could go against Bitcoin in the future.
While Ray never said the government would eventually impose a ban, he did highlight some points in support of why it's objectively possible for the government to ban Bitcoin. At a time when Bitcoin is seen as a threat to the USD, the government may want to put it to the test in order to help the USD thrive.
Mixed reactions to Tyler's statement
The Bitcoin community is always very passionate. However, this time around, supporters are also heeding Dalio's warnings. CryptoWhale, a popular Bitcoin trader, analyst and miner, responded to Tyler Winklevoss, urging him to apply more logic.
“Eventually they will ban it. Just look at all the wars the US has started to wage to protect its currency. Less wishful thinking, more logical thinking! ”, He warned.
If the US manages to ban Bitcoin, it will put the country in the same boat as Nigeria and India, where governments in both countries plan to restrict cryptocurrency trading to some extent.
While it cannot be said how far the US government will go, any restrictive policy could significantly affect investors and traders, affecting the price of Bitcoin at the same time.
Could institutional money going into Bitcoin save it from the government?
The Crypto vs SEC saga noted in CryptoWhale's tweet has been a topic of concern for the community. Bitcoiners took a cue, following the legal problems of Tether and Ripple. It is worth noting that large institutions buying Bitcoin have strengthened the asset's brand.
This has given rise to another school of thought, that the institutional money backing Bitcoin is enough to keep it out of harm's way, as some believe that with the millions of dollars flowing in Bitcoin, the U.S. government will have a hard time finding. a loophole to ban it.