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30 May 2023 | 12:49 am
The post Even Biden’s Re-election Can’t Threaten Bitcoin, Claims Pro-XRP Lawyer appeared first on Coinpedia Fintech News
In a striking declaration today, a distinguished attorney known for his fervent advocacy for Ripple’s digital currency, XRP, stated emphatically that the re-elected Biden Administration lacks the authority to “kill” Bitcoin. John E. Deaton, a recognized pro-XRP attorney, stirred conversation this week with a provocative assertion: a potential second term for President Biden holds no sway over the indomitable nature of Bitcoin.
In a public response to a Forbes piece, the noted pro-XRP lawyer and crypto supporter, John E. Deaton, emphasized that even if President Biden were to secure a second term in the 2024 U.S Presidential elections, it would not signify the end for Bitcoin (BTC), the most prominent and sizable cryptocurrency.
Deaton aired his thoughts on Twitter, countering an assertion made by Florida’s Governor and Presidential Candidate, Ron DeSantis, who suggested that “the current regime clearly has it out for Bitcoin.”
Florida’s Governor Ron DeSantis, during his presidential bid declaration on Twitter, firmly underscored the importance of cryptocurrency as a central political topic. “The current regime seems to be against Bitcoin,” DeSantis stated, “and if it persists for the next four years, it might indeed lead to its demise.”
Deaton, on the other hand, interprets DeSantis’ comments as politically motivated, aiming to curry favor and attract financial backing from the Bitcoin community. His viewpoint could be rooted in the understanding that Bitcoin’s surging popularity and market value have positioned it as a formidable player in the financial and tech arenas. Therefore, it might be advantageous for politicians to affiliate themselves with this burgeoning sector.
Moreover, Deaton underscores the critical importance of politicians comprehending the core technology that powers cryptocurrencies like Bitcoin. Such understanding is key if they are to draft informed policies and regulations concerning this rapidly evolving industry. Without a firm grasp of the technology, the task of creating meaningful legislation or understanding the long-term opportunities and risks associated with cryptocurrencies becomes significantly more difficult.
Florida Governor Ron DeSantis has consistently championed the importance of nurturing creativity and pushing the boundaries of technological advancements in the financial arena. This includes exciting sectors like cryptocurrencies and the underlying blockchain technology. DeSantis recognizes the vast economic potential that digital assets bring to the table and has articulated his objective of cultivating a business environment conducive to the growth and success of the Bitcoin industry.
In the Governor’s view, money, as a tool of exchange, wields considerable influence. Any innovative development that has the potential to disrupt entrenched power dynamics inevitably commands attention, sparking spirited debates in political circles.
DeSantis went further to stress the core philosophy of Bitcoin, which serves as a decentralized counterpoint to traditional, centralized currencies. This inherent characteristic of Bitcoin challenges the status quo of existing political and economic frameworks, inevitably eliciting a range of reactions and interpretations among political leaders.