Ron Paul pledges allegiance, says cryptocurrencies is a great idea

16 Jul, 2019
by Manshi Soneji Mamtora
Ron Paul pledges allegiance, says cryptocurrencies is a great idea

Ron Paul a presidential candidate and noted opponent of policy that encroaches liberty, called cryptocurrencies a 'great idea'. He likes competing currencies. 

Ron Paul popped up on CNBC’s Squawk Box to support Bitcoin. He is a big-time supporter of gold and precious metals, and also expresses support for Bitcoin while occasionally polling his followers. 

He further commented that he likes 'competing currencies'. He says, ''Historically, governments always have to have a monopoly control over money and credit. That’s why we have a Federal Reserve instead of allowing the market to operate.''

Coming to the Libra project he said that he 'has a strong opinion' that he doesn't know what’s going to happen with it. Though he mentioned that he is all for cryptocurrencies and in favor of whatever Facebook is cooking up.

Paul is a long-time proponent of winding down the Federal Reserve and radically restructuring the way US dollar is issued. Many cryptocurrency supporters hold such beliefs. 

People like Ron Paul recognize the potential of cryptocurrency and blockchain, but it’s unknown how much power the pro-crypto lobby holds. After the hatred comments from Trump, at least the opposite side of the aisle has shown some support.

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