Barry Silbert, CEO of the cryptocurrency investment firm Grayscale Investments and the Digital Currency Group, is convinced of it The United States has passed the point of no return to ban Bitcoin.
In a call to Grayscale investors on July 16 The CEO said he was “cautiously optimistic” about the chances that U.S. cryptocurrency regulations would improve or at least not worsen.
“For the first time in history, we have overcome the perceived risk of the ‘Bitcoin ban’,” said Silbert. “”There is enough DC support from politicians and regulators so that Bitcoin has a right to exist and ultimately cannot be banned. “
The CEO said that Relationships with regulators are much better due to the efforts of groups like the Blockchain Association, a group that works against the SEC for many blockchain and cryptocurrency companies, and coin center, a nonprofit advocacy group for cryptocurrency.
“As an industry, from a DC perspective, we’re much better than ever. These two groups inform politicians about the benefits of this technology in this asset class. The catastrophic regulatory risk that could have previously existed in DC is behind us. “
Bitcoin’s institutional demand
Cointelegraph reported this Grayscale reported a significant increase in cryptocurrency inflows to $ 905.8 million in the second quarter of 2020. This corresponds to an increase of USD 503.7 million in the first quarter.