Joe Rogan: Governments are obsessed with control and will do everything to maintain it. Despite the fact that we live in a democracy, we scarcely have any power over anything outside the people we elect to lead us. Keep in mind that the money in your bank account is not yours since the bank has the right to freeze it at any time and you will be powerless to stop it.
Consider Russia; due to the conflict, the US has closed their FOREX account. But Bitcoin is the one item that completely alters everything. Joe Rogan consequently thinks that the US government is afraid of bitcoin.
The US government is scared of Bitcoin
A well-known podcaster, comedian, and UFC commentator, Joe Rogan is also. He recently claimed that Bitcoin is similar to the early days of the internet, which is why the government is concerned. According to Rogan.
The government never anticipated that Bitcoin would develop into a usable kind of money that can be used to make purchases and send money. El Salvador is one nation that has begun to accept cryptocurrencies as legal cash, while Iran recently imported products worth $10 million by paying with cryptocurrency.
This implies that the US may attempt to regulate Bitcoin or impose usage restrictions. Rogan, though, predicted that they wouldn’t. The straightforward explanation is the public outcry and outrage it will elicit. And one instance of a comparable occurrence occurred when politicians initially blocked the internet and faced a significant outcry.
The strategy that the government will probably use—and are currently concentrating on—is to develop their own cryptocurrency and compete with Bitcoin. We are already aware that they are developing CBDCs. However, it will utterly destroy user privacy and freedom and is much worse than fiat. So Joe hopes that cryptocurrency succeeds because he thinks it has the ability to transform people’s lives.
Can Bitcoin replace USD?
I don’t think Bitcoin can displace the USD in the next two to three decades because it is a strong currency. However, it has the potential to develop into a substitute that people use for both domestic and international payments. The Bitcoin network may be used for international commerce and business by nations that are not a part of the SWIFT network. Overall, it has its applications, and the industry will undoubtedly grow over time.
What do you think of Joe Rogan’s claim that Bitcoin represents a threat to the US government? And do you believe that BTC can be stopped by the authorities? Tell us in the comments section below. Please like and share our material with your friends if you find it to be informative.