Bitcoin getting stronger, not going anywhere: US Congressmen

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Hey readers! If you are a follower of bitcoin trend, the largest cryptocurrency also referred to as BTC. Here is a news for you!

Amidst the ongoing pandemic as the country fights the crisis economically, Bitcoin is said to be getting stronger and that Bitcoin is going to have a shining future.

Current status of Bitcoin

As per reports, the future of Bitcoin is more encouraging and it is an important asset as the U.S Regulators authorized banks have decided to provide custody to cryptocurrencies last week.

The office of the comptroller of the currency has officially approved federally chartered banks that they can provide home for Crypto such as Bitcoin on July 22 and also start to work with it. 

Earlier this year, there were doubts about regulation putting out innovation and thus congressmen called on government to provide clarity upon it.

Recent updates by US Congressman, Tom Emmer regarding Bitcoin and Blockchain technology states that the decentralization of Bit coin is the trump card for fiat currencies, and the ongoing pandemic is encouraging people to look for alternatives stores in terms of value, also the centralized monetary systems are only good for small group of people in charge of money allocation, he added. 

Here’s the link to a video about what US Congressman has to say about Bitcoin and Decentralization

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