bitcoin's important position in the financial landscape continues to receive praise, as US Senator and cryptocurrency advocate Bill Hagerty has x.com/BitcoinMagazine/status/1818334582002868386″ target=”_blank” rel=”noopener nofollow”>expressed out loud their support for btc, emphasizing the need for the largest cryptocurrency asset to evolve and flourish in the country.
bitcoin innovation must happen in the United States
The senator revealed his strong support for bitcoin In a recent interview on Bloomberg Surveillance shared by bitcoin Magazine on the x platform (formerly twitter), he highlighted btc’s ability to drive economic growth and called on lawmakers to enact laws that promote the advancement and acceptance of digital assets.
According to the US senator, bitcoin It is an asset that has evolved over time, gaining attention when it first came across cryptocurrencies in the previous administration in 2018. Initially, Hagerty was skeptical about cryptocurrency assets but later transitioned to being a bitcoin advocate after gaining knowledge about the underlying asset and its remarkable productivity potential.
Considering these qualities of bitcoin, he stated that this innovation must happen in the US and those in power must ensure that it is carried out in the country. “The last thing we want is to see what happens to the industry, which was pushed abroad and we acted from a geopolitical point of view,” he added.
Hagerty noted that after participating in several meetings with the former US president Donald TrumpHe noted that Trump's vision matches this sentiment and further underlined Trump's confidence in bitcoin's ability to transform the country's economy and drive significant innovations.
As the senator pushes for the evolution and success of bitcoin in the US, he stressed that the current administration has actively attacked the cryptocurrency industry, as evidenced by the enforcement policy regulation of the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).
Hagerty cited that these agencies, particularly the SEC under its chairman Gary Gensler, will continually stifle innovation in digital assets in the country, therefore, he expects Trump to fulfill his promise at the bitcoin 2024 conference in gensler fire when he assumes the presidency.
The senator defends the success of cryptocurrencies in the United States under the Trump administration and promises to end the current anti-cryptocurrency movement. “It will create an environment where the industry can thrive and we will see the next wave of innovation happen right here in the United States,” he said.
Great political interest in cryptocurrencies
Bill Hagerty’s endorsement of bitcoin comes amid a broader political shift toward the adoption of the digital asset. Lately, prominent political figures such as Donald Trump, presidential candidate Robert F. Kennedy Jr., and U.S. Senator Cynthia Lummis have all shown their support for btc.
So far, every political figure has been actively pushing for this. bitcoin, a strategic reserve asset in the United States, for its potential to serve as a hedge against inflation, thereby boosting the country's economy and strengthening the US dollar.
Featured image from YouTube, chart from Tradingview.com
