Unpopular Opinion: The Biden Administration’s Attack on the Crypto Industry Is Bullish for Bitcoin.
Over the past few weeks, it has become clear that the US authorities have been given the green light by the Joe Biden administration to attack the crypto industry.
The plan is simple: use an attack via the banking sector. From the SEC to influential members of Congress and the Fed, via the FDIC or the DoJ, they are all attacking cryptocurrency, as if preventing American investors from accessing it would miraculously solve all the flaws of the current system.
Obviously, this will not be the case. Bitcoin and cryptocurrencies are not responsible for the flaws in the current system. On the contrary, you should see Bitcoin as a widely available answer to a system that will eventually collapse.
If the price of Bitcoin can be affected by these attacks on the crypto industry, it is primarily because the general public does not yet know the difference between Bitcoin and cryptocurrencies.
But that will come because if you look closely, no attacks are against Bitcoin. None can be, because Bitcoin would only be further legitimized if these American authorities were to attempt legal action against it.
Just imagine: all Bitcoiners have been saying for years that Bitcoin is there to protect us from censorship by the powerful in the current system. If they try to ban it in America, it would be proof (if any were needed) that it is more necessary than ever to switch to the Bitcoin plan.
Nevertheless, all these attacks are a good thing for the future of Bitcoin, as they will show the general public the distinction between Crypto and Bitcoin.
Bitcoin is here to stay, while the majority of cryptocurrencies will eventually die out. Bitcoin has no CEO that can be sued by the SEC. Bitcoin will not be able to pay fines to the SEC, because Bitcoin is you, it's me, it's everyone.
That is the great strength of Bitcoin, and that is why Satoshi Nakamoto made the best choice of all, to remain a mysterious creator offering the fruits of his labor to the people to grow.
And that's what the people have been doing for over 14 years now.