Tyler Winklevoss, an Oxford Graduate and Olympic athlete, becomes the centre of attention in the crypto circles after his tweet favouring the leading cryptocurrency. Winklevoss’s advocacy has been enticed by the volatile remarks of Ray Dalio about the clash of interest between central governments and BTC. In his recent tweet, Winklevoss stated that the time for US authorities to put a crackdown on Bitcoin has long gone. He was addressing the colossal crypto community following that is present on the social media platform.
A veteran investor Ray Dalio issued a statement claiming that the US government may feel threatened by Bitcoin and impose a nationwide ban on it. The decentralized nature of the digital asset can pose a threat to the monopoly of control over the existing monetary infrastructure. However, Winklevoss believes that Bitcoin has already been tested positive for asset and commodity of value.
Are Bitcoin HODlers worried about Authoritarian Interdiction?
Based on the interest of the Bitcoin HODlers, the crypto community is usually titled in favour of positive news. However, in this case, many Bitcoin stakeholders are considering it a likely probability that the flagship currency could be cracked down any moment if the Alpha apparatus starts to get uncomfortable in its presence. Experienced analysts like Dalio are basing their doomsday predictions based on the fact that the US government has already made a move on Tether and Ripple.
Even popular Bitcoin Trader and analyst, CryptoWhale agrees that the possibility of a ban cannot be overruled 100% at this point. He took to Twitter to respond to Winklevoss’s enthusiastic tweet about the top-ranked digit asset. His tweet mentioned that the US authorities have not refrained from starting wars to safeguard their economic interest and protect the centralized stronghold in the past.
If the US government proceeds to take action into the Bitcoin Trade ban institutionalization, it will join the ranks with India, China, and Nigeria. India’s central bank has already filed a petition for a nationwide ban for not only buying and selling but also possession of any type of cryptocurrencies under its jurisdiction. On the other hand, the Nigerian central bank has already issued an official ban notice to all the country’s financial institutions and capital banks.
However, the recent commencement of USDC based trading with VISA can sway the tailwinds of authoritarian favour in the direction of Bitcoin. Furthermore, the presences of major stakeholders like Grayscale, Microstrategy, Sqaure Inc., and Tesla have made it possible to facilitate billions of dollars worth of cash flow into the crypto market. Institutional intervention at such a massive scale would make it very challenging for the US government to effectively implement the ban.