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Bitcoin BTC BTCUSD

Why This Meeting With Jack Dorsey Could Mark A Turning Point For Bitcoin

Reynaldo Marquez
by Reynaldo Marquez
4 years ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin is at the center of a political debate in the United States. Regulators, legislators, and government institutions seem to be leaning in favor of its detractors.

The recent conflict over the infrastructure bill, with a provision that could significantly hurt the crypto industry, proved that there is a lot of power with those that opposed Bitcoin. Conversely, its proponents also displayed strength.

Relating Reading: Breaking Down The US Infrastructure Bill And Its Impact On Crypto

However, the industry is young and will need more allies to fight back on politics that could potentially be stalled or stop it altogether.

Aarika Rhodes, U.S. Congressional Candidate for the 30th District of California, asked for a meeting with Bitcoiner and CEO of Twitter Jack Dorsey. The invitation was made via that social network, and Dorsey accepted.

https://twitter.com/AarikaRhodes/status/1436162931058614281

The product of this meeting could have major implications for Bitcoin. Rhodes is running on a pro-BTC platform against one of the industry’s worst detractors, U.S. Congressman (D) Brad Sherman. He is known for statements such as:

Cryptocurrencies, if they succeed, will have appeal to only two groups, narco-terrorists and tax evaders.

If Sherman have it his way Bitcoin and other cryptocurrencies would be ban in the U.S. shutting down the door on innovation in one of the most important economic hubs. Sherman is not alone on his stand, as Secretary of the Treasury Janet Yellen, and U.S. Senator Elizabeth Warren have proven.

Related Reading: It’s On, Elizabeth Warren Triggers Retaliation From The Crypto Community

Bitcoin detractors treat cryptocurrencies as a bi-partisan problem, and its defenders must do the same. Rhodes said the following after asking for a meeting with Jack Dorsey:

Bitcoin is not a partisan issue. People from all across the political spectrum invest in #bitcoin and that is their choice. I am happy with my stance.

Aarika Rhodes, A True Bitcoin Believer?

An award-winner teacher in California, Rhodes’ is running on a platform focused on academic inequalities, low-income communities, reforms for the U.S. criminal justice system, and financial reforms, including a pro-BTC stance.

Rhodes worked as a volunteer in the presidential campaign for Andrew Yang, also a Bitcoin supporter. In an article for Bitcoin Magazine, talking about the importance of financial literacy for students, Rhodes said:

Bitcoin is already changing finance and investment, and it has the potential to revolutionize the entire economy. If the federal government banned bitcoin, it would not destroy the technology, but it would help ensure that the American economy will lose out to foreign markets and investors.

This has been one of the concerns raised by all actors in the crypto industry operating in the U.S., by adopting anti-BTC policies, innovation could choose to migrate, as it has already done in the past in different countries. Rhodes added:

Calls to ban bitcoin are bad for the economy and ignore the rights of individual Americans to handle their own money as they see fit.

At the time of writing, BTC trades at $45,690 with persistent sideways movement as it recovers from a dropped to $43,000 that took place on Tuesday. Reclaiming the high area of its current levels has become imperative for BTC’s price to retake bullish momentum.

Bitcoin BTC BTCUSD
BTC moving sideways in the daily chart. Source: BTCUSD Tradingview
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Reynaldo Marquez

Reynaldo Marquez

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As an editor at NewsBTC, Reynaldo is an experienced journalist passionate about all things crypto. Reynaldo has interviewed key industry leaders, and created unique pieces analyzing the promise of crypto as the next frontier for an economic and social transformation of humanity. Since 2018, he has been at the forefront of the industry, closely following every major development and analyzing critical events at the heart of the crypto industry. With a keen eye for detail and an unwavering commitment to excellence, Reynaldo has been instrumental in bringing the latest news and insights to the crypto community. Outside of work, Reynaldo enjoys lifting weights and literature, which he believes gives him a unique perspective into the world of crypto. As an aspiring trader, he is always looking for new opportunities to explore and believes that crypto holds the key to unlocking the future of finance.

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