As the cryptocurrency industry evolves, institutions and governments become increasingly politicized towards its assets, notably Bitcoin (BTC), with one former lawmaker strongly lobbying for it.
Indeed, British journalist, former politician, and former leader of the UK Independence Party (UKIP), Nigel Farage, discussed Bitcoin’s benefits at the Bitcoin Amsterdam conference in an October 13 interview that was broadcasted online.
During the interview, the former member of the European Parliament (MEP) described crypto as an “economic insurrection led by individuals who fear the overwhelming scale of big government and want to be free, independent, and masters of their own destiny, so for me, it’s a very natural place to be.”
Farage compared the Bitcoin concept to Brexit in terms of hostility and stated: The whole establishment will instantly oppose any new concept because they control the established status quo, they’re extremely comfortable, they’re doing well, and they don’t want anything to come along and disturb them.
With this in mind, Farage emphasized the importance of lobbying and education on crypto, as many people, including lawmakers, still don’t know much about it beyond the fact that they’ve heard it could be a ‘Ponzi scheme,’ as “it’s portrayed as the Wild West, the haven for criminals, and all these negatives.”
Finbold claimed that the CEO of banking behemoth JPMorgan Chase (NYSE: JPM), Jamie Dimon, has lately criticised Bitcoin and cryptocurrencies, comparing them to a “Ponzi scheme.”
Robert McCauley, an associate member of the Faculty of History at the University of Oxford, and Nassim Taleb, author of “The Black Swan,” have both described Bitcoin as a Ponzi scheme.
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