Foundation system

Bitcoin can protect Americans because “it can’t be created out of thin air”

As the cryptocurrency market grows bigger by the day, so does support from all walks of life, including the Heritage Foundation, an American conservative think tank based in Washington, DC, primarily focused on public policy.

Indeed, its president Kevin Roberts took part in a panel discussion entitled ‘Bitcoin and the American Experiment’, during which he expressed his belief that Bitcoin (BTC) was the greatest destructive innovation in a positive sense, which could protect the American people, CoinCodeCap announced May 24.

Roberts’ reasoning was that:

“Bitcoin can protect Americans because it cannot be created out of thin air.”

In his introductory speech, he explained his view of “Bitcoin as the greatest destructive innovation in a positive sense.”

Prominent Crypto Advocates Gather

The Heritage Foundation chairman’s views were echoed by other panelists, including Cynthia Lummis, who, as Finbold reported in early March, was putting the finishing touches on a new bill that would bring digital assets into the American financial system.

Lummis argued that the pro-crypto regulatory framework would bring order to the crypto ecosystem which she called “absolutely amazing,” without stifling innovation. According to her, Bitcoin was a Phoenix that would rise and the announced bill would detail the different parts of digital assets and commodities.

Roberts and Lummis were joined by other prominent crypto figures, including MicroStrategy CEO Michael Saylor, U.S. Senator Ted Cruz, and Heritage Foundation economic policy researcher Peter St. Onge.

Heritage Foundation: Is there an anti-crypto crusade?

Meanwhile, the Heritage Foundation expressed on its blog the position that the United States Securities and Exchange Commission (SEC) was on a perceived crusade against all things crypto, stating that:

“After years of numerous applications by responsible applicants, not a single bitcoin exchange-traded fund has been approved, although much riskier commodity derivatives have been happily given the green light.”

The perceived hostility had also led a group of US congressmen to appeal to the financial agency over its process of finding information regarding crypto startups, describing it as a “stifling innovation”.