Barry Silbert, CEO of Grayscale Investments, answered the question of whether the United States could ban the use of Bitcoin .
Bitcoin, which does not depend on any authority, country or state, is considered to be a truly decentralized currency. However, many crypto users still wonder what would happen if countries such as the USA, China and Russia banned Bitcoin use .
Barry Silbert, CEO of Grayscale Investments, one of the biggest names in the industry, largely appealing to institutional investors, does not think this is possible. So much so that he believes that the USA can no longer ban Bitcoin .
Barry Silbert, CEO of Grayscale Investments and Digital Currency Group, recently met with Grayscale investors. According to Cointelegraph, Silbert talked about the legal status of cryptocurrencies in the US during this meeting.
Silbert is said to have made very positive comments about cryptocurrencies during the meeting. Speaking about cryptocurrency regulations in the US, Silbert said that over time, these will evolve in favor of cryptocurrencies and the cryptocurrency industry will continue to grow. In fact, in his opinion, it is no longer possible for the US to ban the use of Bitcoin. His comments on the subject are as follows:
“Do they now prohibit Bitcoin?” We do not think and we have never been to this stage before. Many politicians and regulators in the capital (Washington) are aware that Bitcoin cannot be unplugged, there is no need to ban Bitcoin. ”
Growing More and More
The reason why regulators in the USA are increasingly moderate towards the cryptocurrency market is that the cryptocurrency industry is growing healthily . We can see this directly when we look at Grayscale’s second quarter report. The company released a record a few days ago, saying it sold $ 905 million in crypto for the second quarter. In addition, more than 80 percent of these sales were made to institutional investors.
Such developments may enable cryptocurrencies to be accepted by larger masses . Barry Silbert makes a comment on this issue and says that they are doing well with politicians right now and adds:
“Managers in the capital have never looked at the cryptocurrency industry so well. We continue to educate and inform those in the capital about cryptocurrencies. ”