REGULATORS TO ACKNOWLEDGE BITCOIN AS DIGITAL COMMODITY

prime11 (62)in Tron Fan Club • 2 years ago

I think this year will be remembered as a difficult year and I think 2023 will be much better than this year. 2024 will be taking out some momentum and 2025 will be the early year of institutional adoption in a big way. The catalyst to the next bull run will be an educated market, educated policymakers, educated regulators, and educated media. What we have got for the past six to nine months is a very expensive education because many people learn a lot from Terra Luna, Three arrows capital, Voyager, Celsius, and FTX.

The coverage of Bitcoin on the means stream media is much more sophisticated today than it was 12 months ago. For the crypto industry to move forward, the market has to grow up and be educated. Just like the Senators, they don't really know how Bitcoin and Ethereum work. When you have the regulators and the mainstream media that didn't know the difference between Bitcoin and Ethereum, the industry is held back. We need to have the meltdown of crypto casinos and the meltdown of some crypto tokens and the melt of unstable altcoins like UST in other for the administration to recognize this asset class.

For crypto to be economically sound cryptocurrency, you are going to have a public issuer that is transparent in its assets and then backed by more risk. There is growing awareness of digital commodities and Bitcoin is the only one the chairman of the SEC has said is a commodity also the chairman of the CFTC has said Bitcoin is a digital commodity. This is very interesting for the regulator to acknowledge Bitcoin as digital commodity. We now have many people who understand digital commodities asset assets without an issue. That is a huge development in the industry.

The meltdown of this crypto complex means that the ability to corrupt the establishment has been seriously impaired even though it has not been completely stopped. I think there are a lot of honest people that are genuinely interested in the right thing for the world and now have their eyes opened.

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