White House says Crypto-assets do not offer "any fundamental value, nor do they act as an effective alternative to fiat money."
The White House released its Economic Report of the President for 2023, and it contains a section on cryptocurrencies that is sure to raise some eyebrows. The report states that “crypto-assets do not offer any fundamental value, nor do they act as an effective alternative to fiat money.” When I saw this news the first thing that came to my head is this are those in the white house living on another planet or perhaps they are living on their own planet I guess because, in the past few weeks, banks have turned into a risk investment and place to save money because a lot of banks have been dropping like flies and many people have and are moving their money to crypto from the bank because it is the financial safe haven and it scares the government so as usual, they are trying to discredit crypto instead of embarrassing it.
The Era where people listen to the government's option or options about crypto has passed and is long forgotten, what am I even saying self has anyone ever taken or who even takes the white house seriously when it comes to Defi and Crypto these days except maybe the people stuck in the government bubble as them. It is quite obvious that the government hates crypto and would never be able to handle the heat of knowing that they cannot Crypto or manipulate crypto and also that Crypto has taken over the financial system and won the people's hearts over their controlled and manipulative fiat currency.
Another thing that makes me laugh is that the government is so quick to say trash about crypto to discredit it, saying things like it has no fundamental value, it is an imaginary money, they act as an effective alternative to fiat money, it has to real-life value but it is fine and real enough for them to place taxes on crypto if crypto has no monetary value right that means people don’t have to pay taxes. And for part of crypto not functioning as a good alternative to fiat, we all know that is a lie, because cryptos are a wonderful class of assets available to any person on the planet, not limited to just the wealthy. And lastly, they function as a way to decentralize control of virtually every important aspect of human society functions that traditionally have been GAMED and controlled by greed and the wealthy class.
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