There have been some heated arguments as of late regarding Bitcoin an expected use within the financial markets. These arguments took place within the United States government, and there were many members who shared conflicting views about cryptocurrency and whether it is of benefit to everyone or rather is it detrimental to the economy and the interests of consumers and investors within the country.
The main reasons for these arguments are due largely to the fact that Bitcoin, much like any other cryptocurrency, is extremely volatile in nature. It is therefore difficult to rely on it as a coherent and sustainable source of income, although there are some that would argue that this volatility is useful and makes for a fast-paced and dynamic market and economy.
Speculations about Bitcoin not as welcoming as some would have hoped
Senator Elizabeth Warren had created some controversy recently due to her recent comments regarding Bitcoin and its future. Her comments sparked debate as to whether the United States government does actually support cryptocurrency or if it is something that it is against simply because it is too difficult to control.
Many investors and consumers would agree that Bitcoin has allowed them to earn incomes that would have otherwise been extremely difficult to obtain, but senators such as Elizabeth Warren and other regulators within the United States government are sticking to their stance that cryptocurrency, in general, is way too volatile to be relied upon and as such could lose its value in the near future. Elizabeth Warren also echoed the same sentiment as the United States Secretary of Treasury Janet Yellen, much to the dismay of crypto investors.
Bitcoin’s future still bright despite setbacks and scepticism
Much like how the United States government has made its feelings known about Bitcoin, supporters of the cryptocurrency have also made their opinion known to the public. To summarise, many feel that Bitcoin and cryptocurrency, in general, is a catalyst for innovation and change, and as such, it has actually forced the economy to get back on its feet and catch up with the times. Ultimately though, only time will tell whether Bitcoin will be supported or fought against within the United States, and this could have long-lasting effects on the rest of the world’s digital trading communities as well.
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