- Support and adoption for Bitcoin and digital currencies are on the rise
- Congressman – Warren Davidson – is supportive of Bitcoin (BTC)
- Davidson bitcoin is sound money
Bitcoin News Today – The support for Bitcoin (BTC) is increasing as the days go by. While many in Washington D.C. have refused to support the digital currency, a Congressman recently took to Twitter to show his support for the digital currency. Many governments, companies, and individuals are beginning to see the benefits of Bitcoin (BTC) and its underlying technology. The support and adoption of Bitcoin and other digital currencies have been on the rise over the past few years.
Bitcoin Is Sound Money – Congressman
On June 22, Warren Davidson – Congressman of Ohio’s eight district – showed his support for the nascent space via a tweet. In the tweet, he said, “Sound Money is required to Defend Freedom.”
Bitcoin (BTC) Price Today – BTC / USD
Many in the digital currency space were quick to thank Davidson for his tweet. Some of those that praised the Congressman for showing his support for the digital currency are Hodlonaut, Meltem Demirors of CoinShares, and Brandon Quittem. This is far from the first time this Congressman has shown his support for digital currencies publicly.
Some time ago, Davidson told two BTC supporters and commentators – Michael Goldstein and Pierre Rochard – that Facebook should use Bitcoin (BTC) rather than creating their coin Libra. In a congressional hearing, Davidson tagged altcoins “shitcoins,” further showing his support for the world’s largest digital currency by market cap.
The US President Is Not a Fan of Crypto
While Davidson and a few others in Washington D.C. are supportive of BTC and other digital currencies, the President of the United States – Donald Trump – is not a fan of digital currencies. According to a report by the Washington Examiner, Donald Trump was dire for the benchmark digital currency as early as May of 2018.
Trump told Steven Mnuchin – Treasury Secretary – to “go after Bitcoin” during a meeting in May 2018. The revelation that US President does not like Bitcoin since 2018 was revealed in an excerpt from the book by former national security advisor John Bolton titled “The Room Where It Happened.” The book is yet to be published because of the pressure from the Department of Justice.
The skepticism of Trump towards digital currencies is culminating in regulatory moves to control the digital currency industry. The budget proposal of the White House for this economic year of 2021 commented on digital currency.
It was stated in the proposal that the United States Secret Service – the agency in charge of enforcing financial crimes – should be returned to the Treasury. According to the proposal, this move will create new efficiencies in how the agency will enforce crypto-related crimes.