Brett Winton, chief futurist at investment firm Ark Invest, believes the United States should embrace Bitcoin (BTC) as a strategic asset rather than trying to hinder its growth.
Winton argued that US attempts to crack down on Bitcoin harm the long-term strategic interests of the US. He compared Bitcoin to language translation technology, which he claimed has increased the dominance of English as a global language.
The analyst shared the following in his note:
“Trying to kill Bitcoin because it threatens the dominance of the US dollar system is like trying to kill language translation technology because it threatens the dominance of the English language. However, both technologies have a synergistic effect that, when adopted more smoothly, can further strengthen each other's impact.”
Winton's comments come at a time when regulatory controls over Bitcoin and other cryptocurrencies are increasing in the United States. The Securities and Exchange Commission (SEC) last week delayed decisions on several applications for spot Bitcoin exchange-traded funds (ETFs) from leading asset managers such as BlackRock, Fidelity, Bitwise, VanEck, WisdomTree, Invesco and Valkyrie.
*This is not investment advice.