Former Coinbase CTO Reveals: Bitcoin as a Global Political Revolution, What's the Reason?

Crypto News - Posted on 05 March 2024 Reading time 5 minutes

DIGIVESTASI - Former Coinbase CTO Balaji Srinivasan believes Bitcoin is a "political revolution." He says the most popular cryptocurrency can be separated from national interests. This is meant to be different from the currencies in use today. 

 

Srinivasan explains that by disrupting the way money is spent and the way governments seize existing assets, Bitcoin will allow all citizens to create a voluntary network independent of their national interests. . 

 

"Bitcoin allows people to freely decide early on what kind of groups they want to form, what kind of public goods they want to crowdfund, and what they want to do independently as a society. We can," Srinivasan said. Tuesday (2024/05/03). Furthermore, he said Bitcoin would split the country into two political parties. Countries that are early adopters of Bitcoin, such as El Salvador and Bhutan, and countries that fail to ascertain the relevance and importance of their proposals.

 

Srinivasan emphasized that this would cause the latter to attack cryptocurrencies and revert to its previous views. He said these countries "will question whether Bitcoin is any good, and will even say that Bitcoin is too powerful to be left to the people. And then the confiscation efforts... will begin," he explained.

 

The Indian-American investor had earlier commented on the relevance of Bitcoin. He said January's sanctions against Bitcoin exchange-traded funds (ETFs) were akin to the revocation of Executive Order 6102, which confiscated gold from America in 1935.


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Source: liputan6.com

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