Due to the independence of the virtual asset class, the cryptocurrency industry has often faced criticism in the past, failing to achieve general validation from economic institutions.
The scenario has changed over time however, as Bitcoin [BTC] and other crypto assets have started to be accepted across the United States and the world, despite governments not being entirely sold on the idea of digital currencies.
Travis Kling, Founder of Ikigai Asset Management, recently spoke about the demographic and sentiment shared by the US government towards Bitcoin [BTC].
In an episode of Whatbitcoindid with Peter McCormack, Kling said that it âsurprisedâ him a little that the US government was slowly accepting Bitcoin. However, he added that it was an âunclear relationshipâ that the government shared with the virtual asset.
âI think different parts of the government feel different ways about it. if you talk to the real significant people, they will tell Bitcoin has been on the radar of different parts of the US government from the very beginning.â
He suggested that it was very important to consider the âSilk Roadâ situation which US enforcement agencies dealt with in the early days of Bitcoin. The government probably never imagined Bitcoinâs popularity reaching its present-day levels, he claimed.
Kling mentioned that he was not wary of the government trying to keep the price under control, stating that a ânon-physically settled future,â would be a really good way to âmanipulateâ the price of Bitcoin because it would eradicate the scarcity value associated with the virtual asset, which is one of its most desired and attractive traits.
Additionally, Kling stated that Bitcoin, despite being a risk-laden asset, was a risky asset with a âspecific set of investment characteristics.â He implied that Bitcoinâs framework looked good and that it had become increasingly more attractive as Central banks became more irresponsible with their monetary and fiscal policies.