As Bitcoin and Crypto-Fans, we see again and again how people from the state authorities or by the traditional financial sector poorly on Bitcoin talk and some of them use arguments whose statement may be doubted that power. In addition to this tendency, we see in discussions about BTC again and again, begs the question of whether Bitcoin is a good Store of Value (store of Value). Because on the one hand, there may be a maximum of 21 million BTC, on the other hand, the price is still very volatile.
For a Congressman from the United States, the thing seems to be clear: Bitcoin is a “good Store of Value”. So he stands out from many of his professional colleagues, which should be compared to the digital Gold still very skeptical. At the same time, he denounces the current monetary policy of Central banks, and sees this as a problem. We summarize for you the statements of the American politician.
Contents
Policy of the Central banks is questionable
In the case of the US Congressman are Warren Davidson, a politician of the Republican party. Davidson was recently heard in an Interview of the well-known Crypto-Podcasts “Unchained”, in which he responds thematically mainly on the current policy of the Central banks and Bitcoin as a Store of Value.
In summary, one can say that the US politicians will find the approach of the Central banks is questionable, specifically the frequency of monetary policy measures, with which the quantity of money increases and “money printing” is.
In his opinion, the history clearly shows, to print that easy money as the solution to all problems is not sufficient and in the long term, even harm. However, he stresses that a Central Bank plays nevertheless an important role if it carries out its function properly.
I think that a Central Bank plays a role, but I think that it is a precautionary measure, as the people say: “Oh, we should still be three trillion (dollars) and a print.”
The modern money theory: people who believe that if you have a Central Bank that can simply print more (money). That is not what history shows, and frankly, it is logical that you can not dilute the value of money all simply, without this having consequences for the money, and that is completely irrational.
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Bitcoin as a good Store of Value
Warren Davidson says that he knows that many people from the Bitcoin and Crypto Space to share his opinion on the policy of Central banks. However, despite this criticism, he is a Maximalist, nevertheless, by no means a Bitcoin and is not of the opinion that BTC should replace the US Dollar as the national currency.
The digital currency is too inflexible to situations such as the corona crisis. The US politician sees Bitcoin more as a digital Gold, as a currency and thinks that BTC is a “good Store of Value”:
I think if you would have Bitcoin as its national currency, you would recognize the lack of flexibility, (which would be the BTC) of a Central Bank in such a Situation. Personally, I see Bitcoin as a kind of digital Gold to real currency. I think it is a good Store of Value.
Davidson also adds that he does not own any Bitcoin, although it would not be forbidden for him as a politician.
Also, if it will take a long time until Bitcoin really has arrived in the Mainstream, and a nationwide acceptance and popularity, it is definitely a good sign to recognize that, in some cases also politicians to start the value of BTC. That would have been until a few years ago is probably still unthinkable, and shows how far the field has developed. So it can go out of Crypto-Fans so happy.
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