Investment Fund's CEO Says Government Intervention will lead to the End of Bitcoin
The CEO of investment fund Hermitage claimed that no matter how much time it will take for this to happen, governments will finally regulate cryptocurrencies. According to Hermitage's CEO, Bill Browder, government intervention will most likely be triggered by criminal activity.
So, according to Browder, all cryptocurrencies will be regulated at one point. However, he revealed that at the moment when this will occur, the whole market will lose a lot, as investors will no longer be interested in cryptocurrencies.
Investment fund's chief says criminal activity will lead to the end of cryptocurrencies
According to Browder, the fact that bitcoin and cryptocurrencies in general are so easy to use for criminal activity or that they can be used to evade sanctions will eventually crash the market.
When it comes to the sanctions aspect, it has previously been revealed that countries such as Venezuela and Russia were looking into the possibility of launching their own national cryptocurrencies with the main purpose to evade international sanctions.
Browder explained that the fact that cryptocurrencies allow anonymous transactions makes them a great option to transfer money by criminals. Browder said:
“From the perspective of politicians around the world — they’re not going to allow that to happen. They will eventually regulate all cryptocurrencies. In the same way as you can’t take more than $10,000 out of a U.S. bank without reporting it to the government, they’re not going to allow people to take $1 million worth of bitcoin and move it from Russia to Switzerland.”
But, this might also mean the end of bitcoin and other cryptocurrencies, which became so popular also because of the lack of regulation and their anonymous nature.
