Microstrategy CEO, Michael Saylor always shows that he is a faithful supporter of Bitcoin. Microstrategy currently holds 108,992 BTC. Michael Saylor is among the big names of long-term and hardcore support of Bitcoin, just like Twitter CEO Jack Dorsey.
In his comment, he has shared a fascinating fact that any technology that China bans has turned into huge success:
“Nothing has created more wealth in the past decade than technologies banned in China. #Bitcoin”
Nothing has created more wealth in the past decade than technologies banned in China. #Bitcoin
— Michael Saylor⚡️ (@michael_saylor) September 24, 2021
There is a significant list of business/Technologies that were banned by China and they are more than successful:
- YouTube
- Wikipedia
- Netflix
- Vimeo
This is not the first time China has banned crypto. According to Cointelegraph, Since 2009, China has forbidden BTC and crypto 19 times. Out of these 19 bans, 11 stops came directly from Chinese and Hong Kong regulators like People Bank of China (PBOC) applying or hinting at enforcing a crypto ban.
China “banned” Bitcoin for the 72289393th time? ? ?
— Dan Held (@danheld) September 24, 2021
According to Senator Patrick Joseph Toomey Jr. (R-PA) tweet, the United States can benefit a lot from anti-crypto actions by the Chinese government.
He said:
China’s authoritarian crackdown on crypto, including #Bitcoin, is a big opportunity for the U.S. It’s also a reminder of our huge structural advantage over China.
— Senator Pat Toomey (@SenToomey) September 24, 2021
Jeremy Allaire, CEO of Circle Inc and USD Coin (USDC), lists two models for the United States’ response to Chinese hostility.
1/5 A message to US and Western Policymakers on how to think about China's approach to crypto and blockchain. China opposes the Western system of values built on openness, transparency, privacy, free market competition and so forth.
— Jeremy Allaire (@jerallaire) September 24, 2021
2/5 The internet itself as an expression of these values , and it is one of the reasons that China has always fought to control the internet. These values are also deeply at the core of crypto and blockchains, enshrining them into new economic and governance infrastructure.
— Jeremy Allaire (@jerallaire) September 24, 2021
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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