Raoul Pal Bitcoin - The Battle Is Just Starting! (Infrastructure Bill)

Raoul Pal Bitcoin - The Battle Is Just Starting! (Infrastructure Bill)
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In this question-and-answer session, Raoul Pal expresses his views on the government's attempt to regulate the crypto industry. He also shares a positive outlook for Bitcoin adoption.

Here is the highlight of the interview:

Concerning the US Infrastructure Bill, the crypto amendments, and the large set of regulatory machinations, crypto promoters already knew regulation was coming. It's obvious that somebody has a mission within the current US administration. Regulators are trying to weaken cryptos as much as they can. But they're so far behind the regulation. They've not thought about regulating the DeFi market. Meanwhile, trying to fight Bitcoin, DeFi, and the NFT markets will be a battle that will last for years.

When Bitcoin was still rising, the Environmental Support Group (ESG) and China's ban on Bitcoin mining halted the rally. But when you look at the issue of adoption, you'll realize that the crypto industry is growing twice as fast as the internet did with the same number of users. In 1997, the internet was growing at 63% a year, but now, the entire digital space is growing at 113% a year. Note that this is the fastest-growing adoption of any technology in all recorded human history.

People didn't understand the network models used by Amazon or Facebook. Otherwise, they would have been as rich as Jeff Bezos or Mark Zuckerberg. The big tech companies have had their share of ups and downs, but the adoption keeps going up. While we have positive news like El Salvador adopting Bitcoin, we also have negative news like regulation. All these are a part of the story. Digital currencies enable you to get rid of central banks because you don't need them to set any interest rate. By 2024, the number of Bitcoin users may hit a billion. Bitcoin is here to stay as an effective edge against the current inflation caused by governments.

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Credit: Nathaniel Whittemore (Full unedited video)
ORIGINALLY POSTED: Aug 7, 2021
Crypto IS Macro Now': Raoul Pal on Bitcoin, DeFi and the Transformation of Power
https://www.youtube.com/watch?v=vnGergFNN2o&t=15s
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