A former CTO of Coinbase officer predicted that the US government would cut access to Bitcoin. Check out the latest reports below.
Bitcoin access to be cut by the government?
Former Coinbase chief technology officer Balaji Srinivasan said recently that the US government will cut off access to Bitcoin (BTC) in response to the “banking crisis.”
In a new interview on the Bankless podcast, Srinivasan said that a lot of US fiat banks “will go to zero” and the US government will try to stop people from exiting the financial system.
“Can enough people get to the Bitcoin exit in time before they close the exits… Because they shut down Silvergate… SVB, First Republic, Signature.”
Srinivasan, however, predicts that Bitcoin “will be protected by enough governments” around the world.
The online publication the Daily Hodl notes the fact that last week, the former Coinbase CTO made waves in the crypto world after placing a million-dollar bet that Bitcoin will skyrocket to $1 million in just 90 days. BTC is trading at $27,380 at time of writing.
He believes the world will witness massive changes this year catalyzed by the devaluation of the dollar.
“This year may be one for the books…
The devaluation of the dollar.
The rise of Bitcoin.
The global flippening to the East.
Even for someone who was thinking about these trends, the pace of change will feel shockingly, disorientingly fast. It reminds me a bit of the early 1900s. In 1910, you still had nine royals meeting.
The old world of princes was still around and seemingly immortal. But under the surface, technology had changed everything. And the 20th century roared into existence a few years later.”
The popular crypto analyst Benjamin Cowen says Bitcoin (BTC) will make a big move this year that will frighten a lot of people.
In a new strategy session with Altcoin Daily co-host Austin Arnold, Cowen predicts Bitcoin is going to drop in price later this year and induce panic selling.