Many are the countries that have started a regulatory process in the face of the massive growth that Bitcoin has had in the last 2 years. From the case of China, to the actions of the European Union for groups of miners, the crypto ecosystem has had to overcome these obstacles in order to continue promoting cryptocurrencies. But, with the United States joining the group of regulators, many hesitated. On the other hand, there are analysts who know that the advance of Bitcoin will not stop, as will its massive adoption.
Likewise, the United States is the country that has surprisingly more thrived with the interest of regulating Bitcoin and Cryptocurrencies. However, for Bloomberg’s top commodity strategist, Mike McGlone, these regulations will not be able to stop the advance of Bitcoin in the world of finance and the future of technology.
“US Regulation Can’t Stop Bitcoin’s Advancement”
Bloomberg’s senior commodities strategist acknowledges that as the digitization of money and finance in general is occurring “quickly and organically,” the USD continues to dominate and Bitcoin is gradually replacing gold.
According to him Tweet From McGlone, current and future US crypto regulation is likely unable to prevent the adoption and use of Bitcoin from spreading widely among citizens.
It is worth mentioning that it is not the first time that McGlone has tweeted about Bitcoin and cryptocurrencies. Well, it is already several times this year that he has talked about the flagship cryptocurrency. Likewise, he has always defended that Bitcoin is the digital analog of gold. And even more so now that it is still on its way to reaching $ 100,000.
Bitcoin will continue its bull run, according to McGlone
It is important to know that despite the correction that took place in May thanks to Elon Musk’s negative tweets about Bitcoin and the issue of the alleged environmental problems it causes (followed by the Chinese government’s crackdown on crypto miners), Bitcoin has back up.
Furthermore, the growth of Bitcoin globally is something that can no longer be hidden from governments. A clear example is Latin America, where countries that have been plagued by economic crises and hyperinflations for years have found solutions to the economic crises that subject them, through the use of cryptocurrencies.
Finally, the Bloomberg expert acknowledges that Bitcoin is likely to start a bull run in the second half of 2021. And his opinion is well founded, as Bitcoin reached an all-time high of close to $ 65,000 on April 14 of this year.
Do you think that government regulations will not be able to stop the advance of Bitcoin in the world?