US Congressman Patrick McHenry believes that Bitcoin will continue to exist regardless of the will of political elites.
During an interview on CNBC this Wednesday, the source asked McGenry if regulators and politicians would allow cryptocurrencies to exist.
“There are no such forces to destroy Bitcoin,” he replied. – Even the Chinese with their firewall and extreme degree of intervention in society can not destroy Bitcoin. A distributed registry is the basis of Bitcoin, which is a pioneer in this space. I want to say that Bitcoin cannot be destroyed. ”
McHenry also mentioned other projects in the cryptocurrency space that are trying to “imitate” Bitcoin: “New iterations of this technology try to imitate Bitcoin, but they are not completely distributed, they are not fully open, therefore there are various mechanisms for their destruction”.
At the same time, the congressman acknowledged that the authorities have a significant influence on the legal status of Bitcoin and the possibilities of its use by the general public. This, however, does not detract from the progress that has been achieved in 10 years of existence of cryptocurrency.
“We are talking about something that was nonsense 10 years ago, which people shared for free. Now what was nonsense is trading at $ 10,000, ”added McHenry.