Venture Capitalist predicts US government's crypto crackdown will backfire, strengthening Bitcoin and Ethereum

A venture capitalist named Chris Burniske, who correctly predicted the 2022 crypto market bottom, recently stated in a CNBC interview that investors in Bitcoin, Ethereum, and the wider digital asset market are not worried about the US government's latest enforcement actions against key players in the industry. Burniske believes that the regulatory pressure on the industry will ultimately strengthen the conviction of crypto investors and attract more people to Bitcoin. He points out that Bitcoin and Ethereum protocols are settling over $20 trillion in value combined and that 68% of Bitcoin holders have not sold or moved their Bitcoin for over a year. Burniske also highlights that Bitcoin was created as an alternative to the traditional banking system, and Ethereum operates an internet-native financial system. These are valuable options for consumers to diversify, as there is no solvency risk, algorithmic supply, and they won't be caught up in the same contagion seen in the traditional system.
Chris Burniske, a venture capitalist who correctly predicted the 2022 crypto market bottom, believes that investors in Bitcoin, Ethereum, and the wider digital asset market are not concerned about the US government's recent enforcement actions against key players in the industry. Burniske thinks that the regulatory pressure on the industry will ultimately strengthen the conviction of crypto investors and attract more people to Bitcoin. He highlights that Bitcoin and Ethereum protocols settle over $20 trillion in value combined, and Bitcoin holders are not selling or moving their Bitcoin, indicating strong conviction. Burniske also emphasizes that Bitcoin and Ethereum are alternatives to the traditional banking system, providing consumers with valuable options to diversify without solvency risks and algorithmic supply.