Connect with us


Bitcoin [BTC] is growing, but is not entirely free of ‘government interference’, claims Saifedean Ammous

Biraajmaan Tamuly



Bitcoin is growing but it is not entirely free of "government interference, claims Author of Bitcoin Standard
Source: Pixabay

Bitcoin [BTC] was very dominant in 2019 and the decentralized asset, which is free of any government oversight, retrieved positive market sentiment. According to Saifedean Ammous, Bitcoin is up by 18 million percent over the last 10 years, indicating its rapid growth over the period.

However, the author of the Bitcoin Standard stressed that Bitcoin was not entirely free from “government interference”.

In a recent interview with German finance magazine Boerse Online, Ammous, a major Bitcoin proponent, stated that Bitcoin still had its share of problems to face in the current financial system.

He said,

“We can’t exactly say whether Bitcoin is protected from governments. However, it is laid out in a global way, which would make it difficult for a government on its own to ban it completely.”

Ammous said that there were certain characteristics that were linked with Bitcoin’s long-term value. It included its scarcity situation, inability to be manipulated against fiat currency, and its comparison to gold.

Ammous said that Bitcoin’s property to be finite gave it enough leverage to be possibly taken as the future standard of gold.

Ammous added,

“Because of the production rate of new Bitcoins halved every four years, this will be even less in the future than those from gold. When using such a unit as a basic standard of the monetary system, then no one, neither policy nor Central Bank, for whatever reason can always simply print money. This makes the end even better and above all more neutral towards Bitcoin. And similar to how gold cannot ruse or corrode, Bitcoin cannot go broke.”

Subscribe to AMBCrypto’s Newsletter

Follow us on Telegram | Twitter | Facebook

Biraajmaan is an engineering graduate who is exploring the ever-changing crypto verse while traversing his passion for cryptocurrency news writing. He is a Chelsea fan and a part-time poet and does not hold any value in cryptocurrencies yet.