The Government Cannot Stop Bitcoin (BTC)

The crypto market is making efforts to surge again, but despite the massive volatility of prices, the optimistic predictions are still popping up in the crypto space.

Today, the crypto market looks pretty mixed with a lot of coins trading in the red and other important digital assets trading in the green.

The government cannot stop Bitcoin

John Stossel, who is a primetime talent on more major network shows, including Good Morning America and more said that the government would not be able to stop Bitcoin.

He addressed the subject of cryptos with the tech reporter Naomi Brockwell, and they also talked about capital controls, government censorship, and BTC resistance as well.

The online publication the Daily Hodl reported that he goes head to head with crypto skeptic Peter Schiff.

On YouTube in a report called “Bitcoin: Better Money,” Stossel pushed back against Schiff, who said that most people are not buying items with BTC.

“People are buying things with Bitcoin now. I buy things on Overstock.com. Other people are looking to escape China’s currency controls. It’s useful,” he said.

Bitcoin vs. Gold

Schiff, who is the CEO and chief global strategist of Euro Pacific Capital, said he does not think that BTC will work and his bet is on gold:

“Gold has actual value. There’s a huge industry that needs gold: jewelry, then you have it in consumer electronics and aerospace and medicine.”

Stossel is not here for the notion of gold supremacy, and he made sure to call the asset a pain:

“I bought gold, gold coins, but then I’ve got to store them somewhere, put them in a safe deposit box. They’re a pain in the neck.”

Check out the video above in order to see more details on this talk.

Regarding the price of the most important coin in the market, BTC is trading in the red today at the moment of writing this article.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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