"I think there is no capacity to kill Bitcoin," says Rep. Patrick McHenry

17 Jul, 2019
by Richard Allen
Interview
I think there is no capacity to kill Bitcoin, says Rep. Patrick McHenry

US Congressman Patrick McHenry, who serves the 10th District of North Carolina has shared his thoughts on Bitcoin. According to the Congressman, Bitcoin isn’t going anywhere.

Speaking to CNBC’s Squawk Box, McHenry was aksed if regulators and politicians would allow the emergence of cryptocurrencies. In response, McHenry said, “there is no capacity to kill Bitcoin.” He went on to say:

“Even the Chinese with their firewall and their extreme intervention on their society cannot kill Bitcoin. So, distributed ledger, full and open, in the essence of Bitcoin, as a first mover in the space, the developer of this technology […] My point here is, you can’t kill Bitcoin.”

He also touched on other projects in the space that are attempting to “mimic” Bitcoin. “New iterations of this that are trying to mimic Bitcoin, they’re not fully distributed, they’re not fully open, there are different mechanisms to kill it.”

The Congressman did, however, agree with the point that the government still have a large impact on Bitcoin’s legal status and its ability to be used by the general public. However, McHenry was quick to outline bitcoin’s progress over the last ten years.

“You’re talking about something that was a joke ten years ago, that people were giving away for free – not a joke, but people were giving away for free, is now trading at $10,000.”

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Read more about: Bitcoin (BTC)

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