Jack Dorsey (CEO of Square and Twitter) said that Bitcoin would eventually unite the country and the world.
The amendment to Senate Infrastructure bill led by Senators Pat Toomey, Cynthia Lummis, and Rob Portman was rejected. Soon after, Dorsey tweeted:
“Bitcoin will unite a deeply divided country. (and eventually: world)”
#Bitcoin will unite a deeply divided country.
(and eventually: world)
— jack⚡️ (@jack) August 9, 2021
A cryptocurrency industry-backed amendment that exempted non-custodial crypto actors from the crypto tax reporting obligation was rejected by the Senate.
The amendment failed, after Senator Richard Shelby attempted to tie $50 Billion military infrastructure spending to it.
Senators Pat Toomey, Cynthia Lummis, and Rob Portman spoke in support of the compromise amendment and so did Senator Ted Cruz, who many predicted would vote against it.
According to Jerry Brito of CoinCenter, while the Senate battle is over, the cryptocurrency lobby will now channel their resources towards the House of Representatives.
He said:
“The bad news is that the amendment did not receive unanimous consent, so it will not make it into the bill.
The good news is we’re not giving up. Next stop is the House where we can try to get a whole new amendment from scratch that can address all our concerns.”
1/ The bad news is that the amendment did not receive unanimous consent, so it will not make it into the bill.
The good news is we’re not giving up. Next stop is the House where we can try to get a whole new amendment from scratch that can address all our concerns.
— Jerry Brito (@jerrybrito) August 9, 2021
The outcome of all the Senate fuss was that crypto community was united, they backed the amendment, Microstrategy CEO, Michael saylor, Cardano founder, Charles Hoskinson and many other founders and influencers came forward to support the amendments. Congress should have known that crypto is a strong united community.
Therefore Jack Dorsey said that Bitcoin will unite the country and eventually the world.
Dorsey has been preaching Bitcoin for long time. He opened a new Square business unit called TBD. He even suggested that Bitcoin would become the “single currency” in the next 10 years, and Jack may soon allow people to purchase Twitter ads with BTC.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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