02.03.2024

Bitcoin is digital gold, it cannot be devalued, said the US congressman

According to California spokesman Roh Hannah, bitcoin, being «digital gold, is not subject to devaluation.» Hannah has worked in Silicon Valley in the past, so she has been talking about Bitcoin for quite some time.

Hannah has been open about the environmental impact of Bitcoin mining, and the Democrat has urged cryptocurrency supporters to find ways to regulate their carbon footprint.

“Bitcoin is digital gold, it cannot be depreciated, and decentralization facilitates its transnational exchange and provides protection from mismanagement. Let’s build on it, but protect consumers, prevent abuse, and invest in less carbon-intensive mining. It has to happen in America. «

Hannah’s claims confirm the existence of two camps among legislators. Some support the technology and want to give cryptocurrency green color, while others are concerned about the alleged use of cryptocurrency in illegal activities.

Bitcoin cannot be devalued

Treasury Secretary Janet Yellen is in the latter camp, especially after she spoke of the «explosion in risk» associated with cryptocurrency a few weeks ago.

“I see the prospects for new technologies, but I also see the reality: cryptocurrencies were used to launder the proceeds of drug traffickers; he was a tool for financing terrorism , ”Yellen said.

The official also noted that bitcoin is «an extremely ineffective way of conducting transactions.»

Nevertheless, no matter how lawmakers treat bitcoin, the prospects for its future development are not in doubt.

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