US congressman shows support for Bitcoin, says crypto isn’t going away

Tom Emmer, a US congressman has shown support for Bitcoin in an interview where he explained that the current coronavirus pandemic would have little or no effect on the long-term prospects of BTC.

The US congressman showed support while answering Antohy Pompliano in a podcast interview that the pandemic is making people search for alternate ways of storing their assets, this Emmer believes would improve the number of people who use Bitcoin.

Emmer said BTC is not going away instead, it will continue to get stronger. He explained that the digital asset has a value that would make people risk investing in it.

US congressman against centralized money system

Emmer, during the interview, also spoke against the centralized monetary system, saying cryptos like BTC are the future owing to their decentralized nature. The US congressman in the podcast explained that he was against government involvement in crypto conversations.

However, regarding the digital dollar, he asked that the Federal Reserve be more transparent regarding its research and development for a central bank digital currency (CBDC).

Emmer urged the US government to take advantage of crypto innovation, in a recently signed letter sent to the Internal Revenue Service alongside some other congress lawmakers. They asked in the letter that the US tax agency enact a policy that would support proof of stake (PoS) technology.

Other sides to Bitcoin

Amidst Emmer’s Bitcoin support, largely, several people believe Bitcoin is a tool scammers and hackers alike use just as it was portrayed in the recent Twitter hack. Several Twitter accounts were used to run a crypto giveaway scam, further denting the image of Bitcoin and other cryptos.

Emmer, however, did not blame Bitcoin for the hack as he tweeted support and stood by his support during his interview with Pompliano.  He explained that Twitter was to blame for the hack and not BTC.