HomeTodays NewsBitcoin [BTC] and crypto-ban highly unlikely as US Dollar will self-destruct, says Ron Paul
Bitcoin [BTC] and crypto-ban highly unlikely as US Dollar will self-destruct, says Ron Paul
May 22, 2019
The debate regarding the prominence of Bitcoin [BTC] and it potentially overtaking the US Dollar in the future has become heated recently, with various personalities in the ecosystem giving their thoughts on the coin’s dominance.
Ron Paul, a former US Congressman, is one of them and created waves after he recently sat down with Bitcoin Magazine and stated that the end of the US Dollar was inevitable.
During the interview, Paul mentioned that he did not particularly understand the technical aspect of a blockchain, but was highly “fascinated” by Bitcoin, it’s marketvolatility and wild unpredictable price surges.
“I’m interested in what happens when the market crashes and I are interested in preserving an environment where people can have alternative ideas that might help solve the problems we have. I think that’s what bitcoin offers: an alternative. I want a free marketplace.”
When questioned about Congressman Sherman’s comments abut a ban on cryptos, Ron Paul replied that he did not have the “clout,” because he was over the top. Ron added that he felt a ban on crypto was highly unlikely.
He further said,
“He’s speaking for the deep state establishment, military people and everyone else in the banking system. He’s representing their position that “You don’t mess with the dollar.” But I don’t worry about that because the dollar is going to self-destruct.”
Ron Paul also weighed in with respect to Grayscale’s Drop gold campaign, remarking that “they were missing the whole point”. He emphasized on the point that if people started utilizing Bitcoin during a crisis, they would still use gold and not entirely dump it all.
Finally, Ron Paul added that the general consensus towards the use of Bitcoin had generally grown with time, as people gained more confidence in the digital asset. He stated that it was important that the number of Bitcoin [BTC] buyers remain consistent in the market.