US Senator Ro Khanna appreciates Bitcoin and appreciates it for being a provisional asset that is free from devaluation. In addition at Twitter, the US Senator also compared Bitcoin with Gold to suggest that Gold has no match with Bitcoin.
Ro Khanna an Indian-American, who has also become the US Senator, has been found appreciating Bitcoin. Not only he applauded Bitcoin but also took note of its decentralized structure to state that it is a source of promoting exchange. In addition, he pointed out that the use of Bitcoin allows governments to ensure check and balance if there is any mismanagement at economical levels.
Khanna isn’t the first in the US House of Senators or in the Government who have grown affection towards digital currencies’ leader.
However, it was Janet Yellen, States’ Treasury Secretary which regarded Bitcoin as “speculative” in one of her statements. Since thereafter many public officials too endorsed Janet’s point of view regarding Bitcoin but also appreciated its existence.
Recent remarks of Khanna were in the same string because before him it was Elizabeth Warren who too supported Yellen’s viewpoint. But the end remarks of Warren were rather scary as she suggested that the end of Bitcoin would be devastating.
Meanwhile, Yellen too had described Bitcoin as energy expensive and labeled it as inefficient. But in contrast with this, Khanna’s understanding of Bitcoin was entirely opposite. Though Khanna did not comment on electricity consumption but he stated that because of its decentralized nature, Bitcoin is a provisional asset. In addition, due to it being a provisional asset it is free from devaluation, said Khanna.
There is obviously no consensus amongst the members of the US Senate who are either appreciating or criticizing Bitcoin. In fact, the higher officials of the US Government take Bitcoin as “speculative” and treat it as something which is insufficient to be utilized as an alternate currency.
Although no one within the US Government had ever talked about regulating Bitcoin or the entire cryptocurrency yet, but none can deny the impression. From Khanna’s remarks, it could be seen as if he too is concerned about Bitcoin’s regulation. He was found stating that the well-being of Bitcoin rests on allowing it to flourish as it should be. The ultimate aim of the authorities must be to prevent its abusive use and/or the consumers, Khanna explained.
Also very recently George Ball of Sanders Morris Harris too has supported Bitcoin. But the Chairman of Sanders Morris has gone an extra mile while appreciating Bitcoin. He was found suggesting that the new theory i.e. Bitcoin as a hedge is the easiest explanation of Bitcoin. According to him, Bitcoin is the mother of all hedges. He stated that Bitcoin and alike are integral parts of the global financial system which no one can cast out.