(Opinion) With Biden's New Executive Order, Is Bitcoin Still A Good Idea?

Jake Wells

photo of bitcoin and graphPhoto by Pierre Borthiry

Bitcoin is still the talk of the town. It’s like the gold of cryptocurrency and it only seems to keep going up in value. Whenever you think of crypto, you think of Bitcoin first and the rest. Yet, so many people are hesitant to invest in it.

Recently, Biden said because of the size and importance of crypto in the world, crypto creates an opportunity to reinforce American leadership in the global financial system and at the technological frontier. Cryptocurrency also has substantial implications for consumer protection, financial stability, national security, and climate risk. (source)

For those reasons, President Biden says he is issuing a new Executive Order to protect U.S. consumers, investors, and businesses.

This executive order also promotes U.S. Leadership in Technology and Economic Competitiveness to Reinforce U.S. Leadership in the Global Financial System by directing the Department of Commerce to establish a framework. Lastly, this Executive Order will explore a U.S. Central Bank Digital Currency (CBDC) by placing urgency on research and development of a potential United States CBDC. (source)

So, Is Bitcoin A Good Idea For You?

It depends. Can you deal with the highs and lows of cryptocurrency? If you can invest and forget, this is the right place for you. Maybe it is a good idea to invest in Bitcoin. At bare minimum, the fact that the United States government is looking this deeply into cryptocurrency is another level of validation for it. Crypto isn't going anywhere anytime soon.

What do you think about cryptocurrency?

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