The main cryptocurrency, Bitcoin (BTC), will not go away once the current financial crisis has subsidedthe representative of the United States believes Tom Emmer.
Well-known industry representative, Emmer says Bitcoin will only get stronger when the world comes out of the economic chaos caused by the corona virus.
Bitcoin and blockchain will continue to grow in importance
“If we emerge from the crisis, Bitcoin will not go away, it will get stronger.”said the congressman during an interview with the co-founder of Morgan Creek Digital, Anthony Pompliano.
According to Emmer Both Bitcoin and the underlying blockchain technology “will continue to grow in importance”. and they will see further progress because of its immense value. “Look, it has value, if something has value, people will take risks and move forward,” said the politician.
US banks are now officially authorized to protect Bitcoin
According to Emmer The future of Bitcoin is now even more promising after last week US regulators Authorization of banks to keep crypto assets.
As reported, the Office of the currency controller on July 22, officially approved banks that have been authorized by the federal government to store cryptocurrencies such as Bitcoin. According to Emmer Brian Brooks, Deputy controller of the OCC, has made a significant contribution to the future of Bitcoin:
“And now Brian Brooks says, ‘Hey, institutions, you can start banking with these things. You can offer them a home, you can start working with them.'”
Rep Emmer is known for his commitment to innovations based on cryptocurrency. Earlier this year, he expressed concern about regulations that hinder innovation. Previously, the congressman had asked the government to give the crypto industry more regulatory clarity.
Emmer is not the only one who believes Bitcoin will get stronger as the markets recover. In March 2020 The billionaire and supporter of blockchain technology Tim Draper predicted that Bitcoin will be one of the most important tools for recovery from the global financial crisis. “When the world returns, it will be Bitcoin, not banks and governments, that will save the day,” said Draper.