Bitcoin has found yet another supporter in the government in the form of Rep. Warren Davidson, (R) Ohio's 8th Congressional District.
The sitting US Congressman took to Twitter on June 22nd to Tweet, “#SoundMoney is required to #DefendFreedom” with an image containing Bitcoin.
— Warren Davidson (@WarrenDavidson) June 22, 2020
“Thank you, congressman, for your advocacy!” commented Meltem Demirors, Chief Strategy Officer of CoinShares, a crypto investment firm.
Davidson's bitcoin support isn't new: he is a familiar figure in the crypto world for authoring the Token Taxonomy Act.
Last year, he not only said that Facebook should drop its Libra plans and adopt Bitcoin but also used the term “shitcoin” during the congressional hearing related to facebook's so-called cryptocurrency.
Earlier this month, Davidson appeared on the “Unchained” podcast with Laura Shin, where he talked about how, due to issues in international payments, he was introduced to DigiCash and then came to know about the “pretty elegant solution” bitcoin.
Although he doesn't own any BTC himself, he views Bitcoin “kind of like digital gold versus a true currency. I think it's a great store of value.”
But unlike Davidson, President Trump is not a Bitcoin supporter as we got to know when he explicitly tweeted about a year back that he isn't a “fan of Bitcoin and other Cryptocurrencies.”
At that time, he said they are not money; instead, cryptos are based on speculation and are highly volatile, which are used to facilitate unlawful behavior.
Then we came to know last week that Trump was wary of the world's leading digital currency as early as in May 2018. It was revealed in the book “The Room Where It Happened” by former national security advisor John Bolton that Trump told Treasury Secretary Steven Mnuchin to “go after Bitcoin” in a meeting about China.
Crypto also featured in White House's budget proposal for the fiscal year 2021. Where moving the secret Service from the Department of Homeland Security to the Treasury Department was proposed, which would “create new efficiencies” in preparing the US to face “the threats of tomorrow,” such as the use of cryptos to finance terrorism.