- US Reps. Patrick McHenry and Warren Davidson pushed for more opportunities for these innovators in the country.
- At the time of writing, Bitcoin was holding steady at $9,217.57.
Today, Bitcoin is now over 11 years old since the whitepaper was originally released by Satoshi Nakamoto on October 31, 2008. Fast forward to today and 2 US Congress reps McHenry and Davidson gave a special shoutout to BTC.
McHenry, the representative for the 10th District in North Carolina, stated that the authorities in the US shouldn’t try to impede the progress of the technology in an October 31st tweet. He believes that policymakers should take on a more helpful role in the development of new technologies.
The world that Satoshi Nakamoto envisioned, and others are building, is an unstoppable force. As policymakers, we should not attempt to deter this technology, but instead ask ourselves: what are we doing to meet the challenges & opportunities of this new world of innovation? https://t.co/K52OcVXkNF
— Patrick McHenry (@PatrickMcHenry) October 31, 2019
Davidson highlighted the importance of protecting online privacy and the way that Bitcoin supports that effort, using Twitter to retweet an article from Cointelegraph on Bitcoin’s whitepaper’s 11th anniversary. The congressman remarked that the publication created “infinite possibilities for technological innovation,” pushing for the US to create framework that benefits the innovators in the space.
Eleven years ago, this anonymous white paper opened up infinite possibilities for technological innovation and #privacy protections. It's time the US harnesses this potential and establishes a framework for American #blockchain innovators. #TTA https://t.co/JcWO2CrnIq
— Warren Davidson (@WarrenDavidson) October 31, 2019
Earlier last month, Davidson had said that the addition of Bitcoin into the Calibra wallet by Facebook would ultimately be a “way better idea” that creating their Libra digital asset.
Coinbase posted a blog yesterday, pointing out that the development of Bitcoin’s adoption has been progressing quickly, and at a much faster rate than other technologies previously, including email and television.
The exchange wrote:
“The television set was invented in 1927 but by the end of the 1940s only 2% of American families owned one. Bitcoin, on the other hand, went from an idea in 2008, and a first transaction in 2009, to over 27 million users in the US alone in 2019, or 9% of Americans.”
As of April 2019, a survey found that potentially 11% of the American population had some ownership of Bitcoin. Presently, Bitcoin is worth $9,217.57, losing less than half a percent of its value in the last 24 hours.