Do. Jun 13th, 2024

• John E. Deaton, a pro-XRP attorney, stated that a second term for President Biden would not be detrimental to Bitcoin.
• Florida’s Governor Ron DeSantis suggested that the current administration is hostile towards Bitcoin and might cause its demise if it remains in power for four more years.
• According to Deaton, DeSantis’ comments are politically motivated and meant to attract financial backing from the Bitcoin community.

Even Biden’s Re-election Can’t Threaten Bitcoin

A distinguished attorney known for his advocacy for Ripple’s digital currency XRP, john E. deaton, has made a striking declaration stating that the re-elected Biden Administration lacks the authority to “kill” Bitcoin. He believes that even if President Biden were to secure a second term in 2024 U.S Presidential elections, it would not signify the end of bitcoin as an indomitable cryptocurrency.

DeSantis Comments On Regime Hostility Against Bitcoin

Florida’s Governor Ron DeSantis during his presidential bid declaration on Twitter had firmly underscored the importance of cryptocurrency as a central political topic by saying “the current regime seems to be against bitcoin and if it persists for next four years ,it might lead it’s demise“.

Deaton View On Crypto Politics

John E deaton countered this assertion by suggesting that DeSantis’s words could be politically motivated with an aim of currying favor and attracting financial backing from the bitcoin community . He further asserted that politicians need to have strong understanding about core technology behind cryptocurrencies like bitcoin in order to draft informed regulations concerning this rapidly evolving industry for their own benefit .

Bitcoin’s Rising Popularity

The rising popularity and market value of bitcoin has positioned it as formidable player in finance and tech arena ,therefore politicians can have advantage by affiliating themselves with this sector . This can be considered as one reason why government may want control over cryptocurrencies but due to decentralization nature of blockchain technology they lack such capabilities which makes bitcoin an indomitable cryptocurrency .

Conclusion

In conclusion , It can be said that despite all efforts by governments or other authorities they cannot eliminate or kill cryptocurrencies like bitcoin due their decentralized nature and growing popularity among people globally .

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