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The U.S. government has too much vested interest in fiat at stake to let Bitcoin win

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The U.S. Government has too much vested interest in the fiat to let Bitcoin lose
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Bitcoin’s performance since the beginning of 2019 has been nothing short of a spectacle. It has outperformed many traditional assets and is holding strong, despite a negative tweet by the President of the United States of America.

Trump acknowledged the existence of Bitcoin and cryptocurrencies, despite bashing them in his tweets. This has caused different reactions to erupt from different parts of the Bitcoin community. CNBC’s Squawk Box discussed the same, with Joe Kernen saying that if given a little bit of time with POTUS, he would sway him towards Bitcoin specifically.

Talking about the fact that the government has a vested interest to make sure things stay as they are and fiat/U.S. Dollar stays dominant, Joe Kernen said that the government would be at a greater disadvantage if it accepts Bitcoin, since they have no way to control and/or track it.

Kernen further deferred to one of the Winklevoss twins’ reply to Trump’s tweet,

“Cryptocurrency is the first money in the world that is governed entirely by math and not the legal-regulatory apparatus of high priests. This alone should give you pause.”

While some people bashed Trump’s opinion about Bitcoin and Libra and how these cryptos should comply with banking regulations, others took the tweet as a blessing in disguise, expecting it to bring more retail attention for Bitcoin.

A Twitter user, @UprDec, commented,

“The tension between Trump’s populist revivalism & Kernen’s libertarian streak is fascinating to me & perhaps 5 or so other viewers”

Another Twitter user, @IfinchMO, tweeted,

“I have never seen a better bullish signal. The president just I formed millions of people there is a better alternative the current inflationary system.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time writer at AMBCrypto and a part-time novice trader.

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