HomeCryptocurrency lawThe famous billionaire believes that the United States will never ban bitcoin

The famous billionaire believes that the United States will never ban bitcoin

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Chamat Palihapitiya, a billionaire investor and CEO of the venture capital company Social Capital, believes that the United States will no longer be able to and the rest of the

In his opinion, the market has become too big for the American authorities to stifle the developing industry.:

“You can’t just wipe out the capitalization of more than $2 trillion from the face of the earth. Bitcoin is not going anywhere and it is currently too institutionalized. There are already quite a few organized pools of capital speculating within this entire ecosystem.

I can give an example of a simple Jump Trading company engaged in high-frequency trading. They posted several photos showing a hired group of newcomers and conducting a training course on programming in Solana. It was an example of attracting people from their side. Therefore, when there are people with big finances and they are ready to invest money in it, the capitalization of the will grow to $ 6 trillion, and then to $ 10 trillion.

That’s why Powell and Gensler had to voice their vision of the situation, namely that they are not going to ban cryptocurrencies. In fact, they know it’s impossible.”

In early October, Fed Chairman Jerome Powell said he had no plans to ban cryptocurrencies. A few days later, the head of the , Gary Gensler, practically repeated his words.

See also  A well-known investor called the time frame for regulators to reach a compromise on cryptocurrencies

Chamat Palihapitiya is one of the first bitcoin investors who bought 1 million BTC in 2010.

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