Matt Hougan pointed out that the cryptocurrency industry’s strong lobbying presence in Washington has prompted many politicians to publicly support Bitcoin.
“Most politicians don’t really like Bitcoin; they just kneel before its growing popularity. Politicians use cryptocurrency because Americans use cryptocurrency,” Hougan said.
He explained that cryptocurrency has gained significant political influence in the United States due to its widespread adoption: more than 80 million Americans already own digital assets.
“Less than two years ago, FTX collapsed in a historic scam, Bitcoin was trading at $17,000, and skeptics were dancing on the cryptocurrency’s grave. Now politicians are openly talking about building a “Bitcoin Fort Knox” in the United States. We are not optimistic enough about Bitcoin’s potential,” Hougan said.
In his opinion, it is quite possible that virtual assets will be widely adopted on Wall Street, transparent cryptocurrency legislation will be quickly passed thanks to bipartisan support in the US Congress, and BTC will be included in the balance sheet of the G20 countries.
Hougan noted that these ideas, once considered dreams, could now become reality, and soon, and the market is underestimating the changing political trends.
Earlier, Matt Hougan said that trillions of dollars will flow into the cryptocurrency market if the regulatory framework in the US improves.
Source: Bits
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