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Bitcoin and aggregated cryptography markets have faced extreme volatility in recent days, exasperated by comments on BTC and emerging crypto markets by world leaders and politicians – which will undoubtedly influence US policy targeting the cryptography markets. from a regulatory point of view.
Analysts note that comments by US President Donald Trump and US Federal Reserve Chairman Jerome Powell on Bitcoin are optimistic, as they validate assets and designate them as "geopolitical chess pieces."
Bitcoin gains significant media coverage as political heavyweights discuss BTC
The recent volatility of Bitcoin has been largely attributed to the deluge of comments on this topic by economic and global leaders, who tend not to talk about emerging technologies.
Federal Reserve Chairman Jerome Powell spoke of Bitcoin during a testimony before the Senate earlier this week, where he pointed out that the advent of cryptocurrencies could bring the United States in a new banking era.
"If we see [widespread adoption] we could witness a return to the United States in an era when we had several different currencies at the time called the National Bank, "said Powell during his testimony," Powell has explained.
In addition, Powell also noted that the main use of Bitcoin at present is "speculative value reserve", which would make it comparable to gold.
A day after these comments, US President Donald Trump also aired his thoughts on Bitcoin for the first time in his history, noting in a tweet that he was not a fan of BTC because of his use for illegal activities.
"I am not a fan of Bitcoin and other crypto – currencies, which are not money, and whose value is very volatile and based on the cutting edge. Unregulated cryptographic assets can facilitate illicit behavior, including drug trafficking and other illegal activities, "he said.
I am not a fan of Bitcoin and other Crypto – currencies, which are not money, and whose value is very volatile and based on the air layer. Unregulated cryptographic assets can facilitate illicit behavior, including drug trafficking and other illegal activities.
– Donald J. Trump (@realDonaldTrump) July 12, 2019
BTC becomes a piece of failure in world politics
Although it is clear that world leaders are divided on what they think of the BTC, it is also clear that what was once considered a small fashion cult has now found its place in the center. of the world stage, which seems to validate it. as having the potential to upset the current system.
Luke Martin, a popular cryptocurrency analyst, spoke of all Bitcoin speeches on the world stage in a recent tweet, saying the big question now was which country would be the first to promote the BTC.
"What is intriguing about this is that it offers an opportunity for another country to publicly announce support for Bitcoin. From taboo to marginal finance, it is now a geopolitical chess game that governments and central banks must take into account. Which country will be the first to promote $ BTC? Martin said.
The intriguing part about this is that it creates an opportunity for another country to publicly announce support for Bitcoin.
From taboo to marginal finance, it is now a geopolitical chess game that governments and central banks must take into account.
Which country will be the first to promote $ BTC? https://t.co/OhnX8jNfXs
– Luke Martin (@VentureCoinist) July 12, 2019
As Bitcoin continues to spawn widespread adoption and world leaders continue to hear about it, it is likely that the world will soon know whether or not BTC will start making headway on the political stage.
Selected image of Shutterstock.
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