Mar. 29, 2022
If you allow ETF for Bitcoin and Ethereum: - People will be paying a lot more taxes as the value of Bitcoin goes up. - People will have access to an alternative to fiat currency. With debt/gdp of 130%, there is a potential that the U.S. will run into high uncontrollable inflation. Bitcoin and Etherium provide an alternative for that. - If we don't approve Bitcoin, and high inflation comes in, U.S. citizens will become poorer. - If the U.S. approves Bitcoin and its citizens become major holders of it, and Bitcoin goes up in value, the wealth of the American people will go up. - If the U.S. does not approve Bitcoin ETF, other countries may do it ahead of us, and their citizens will get the wealth ahead of us, while we stay behind. Bitcoin can become a means of wealth storage like gold. Who owns the gold owns the wealth. You want to buy it when it is relatively low, to become wealthy as its price goes up.