U.S Move Toward Crypto Regulation May Prove Big Step for Bitcoin Adoption
by Dan Wesikopf, Investing.com
Excerpts taken from artcle:
Bitcoin surged after President Joe Biden signed an executive order to review the U.S. approach to cryptocurrencies that some say could spur adoption by legitimizing it as an asset class and provide investors with a long-awaited framework to assess the popular cryptocurrency.
The fact that this is even taking place legitimizes bitcoin as an asset class because it’s the US government recognizing the importance of the change that is inevitably going to take place as a result of bitcoin,” Dan Weiskopf, Co-Portfolio Manager of the Amplify Transformational Data Sharing ETF (BLOK) said in an interview with Investing.com on Wednesday.
“My hope would be that some of these folks, who call themselves maximalists, will be pragmatic about it [regulation], because for the utility value, whether it’s for Bitcoin, Ethereum, or the asset class in general, more acceptance is simply going to be better,” Weiskopf added