Ron Paul widely considered as policy opponent and a presidential candidate during Libertarian movement appeared on Squawk Box of CNBC to share his view on leading cryptocurrency ‘Bitcoin.’ On the program, he called digital currencies as a brilliant idea.
Ron Paul has supported gold and other precious metals for a long time. Finally, he came across the world’s top digital currency Bitcoin. Paul further added that he ‘likes competing currencies.’ He supports digital currencies and always backs Facebook in whatever it’s developing.
Paul said, “Historically, governments always have to have monopoly control over money and credit. That’s why we have a Federal Reserve instead of allowing the market to operate.”
Paul is a long-time supporter of closing the Federal Reserve; he is also a radical supporter of redesigning the process of issuing the US dollar. Most of the crypto enthusiast should maintain such beliefs.
Ron Paul and few other people identify the worth of emerging technologies such as cryptocurrency and blockchain, but it’s unclear how much strength the crypto enthusiast hold.
Cryptocurrency has maintained a special position, and the currency has been disliked as well as liked by people.
Recently, US president shared hateful comments after which some opposite side of the aisle have managed to provide some support to cryptocurrency.
Earlier, the US President had raised concern over cryptocurrency.
Liberals and conservatives such as Ron Paul have voiced their support for cryptocurrency. Liberals have been considered as most outspoken opponents of digital currency.
Without any doubt, a strong social welfare program needs to grow the banking system control.
For the government in order to benefit more, it should either use blockchain that is useful or discover a way to remove them.
If we are not mindful, then cryptocurrency will find its way in the ‘crosshairs’ of the tough armed institution in the history of the world- the US government.