Heritage Foundation President: Bitcoin can protect Americans as ‘it cannot be created out of nothing’

4 months ago
2 mins read

The cryptocurrency market is growing larger by the day and so is the support for it from all walks of life – including the Heritage Foundation, an American conservative think tank based in Washington, D.C., primarily geared towards public policy. 

Indeed, its President Kevin Roberts took part in a panel discussion titled ‘Bitcoin and the American Experiment’, during which he expressed his belief that Bitcoin (BTC) was the greatest destructive innovation in a positive sense, that could protect the American people, CoinCodeCap reported on May 24.

Roberts’s reasoning was that:

“Bitcoin can protect Americans since it cannot be created out of nothing.”

In his introductory speech, he explained his views of “Bitcoin as the single greatest destructive innovation in a positive sense.”

Prominent crypto proponents congregate

The opinions of the Heritage Foundation President were echoed by the panel’s other participants, including Cynthia Lummis, who, as Finbold reported in early March, was putting the final touches on a new bill that would integrate digital assets into the American financial system.

Lummis argued that the pro-crypto regulatory framework would bring order to the crypto ecosystem which she called “absolutely amazing”, without curbing innovation. According to her, Bitcoin was a Phoenix that would rise and the announced bill would detail the different parts of digital assets and commodities.

Roberts and Lummis were joined by other prominent crypto personalities, including the MicroStrategy CEO Michael Saylor, U.S. Senator Ted Cruz, and Peter St. Onge – a research fellow in economic policy at The Heritage Foundation.

Heritage Foundation: Is there an anti-crypto crusade?

Meanwhile, the Heritage Foundation has expressed on its blog the position that the U.S. Securities and Exchange Commission (SEC) was on a perceived crusade against all things crypto, stating that:

“After years of numerous applications by responsible applicants, not a single Bitcoin exchange-traded fund has been approved, even as far riskier commodity derivatives were greenlighted with glee.”

The perceived hostility had also led a group of U.S. congressmen to appeal to the financial agency regarding its information-seeking process where crypto startups were concerned, describing it as ‘stifling innovation’.

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Ana Nicenko

Ana Nicenko has a plethora of knowledge and experience as a journalist covering the cryptocurrency and blockchain industries, having written for a variety of projects and organizations. Additionally, Ana has a master's degree in English Language and Literature. At Finbold, she reports news on the digital assets sector.