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United States’ House Minority Leader says he likes Bitcoin; fears Libra’s illusion of decentralization


Gone are the days when Bitcoin was only discussed on bitcointalk.org between a few hundred people, or on Reddit where the discussion would eventually become an excuse for skeptics to diss on believers.

The virtual asset is no longer a discussion confined to the sphere of social media. Over the past few years, Bitcoin has been addressed by many of the world’s most powerful officials, including the President of the United States. Kevin McCarthy, the United States’ House Minority Leader, is the most recent one.

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In a discussion with Joe Kernen of CNBC Squawk Box, McCarthy claimed that he had an affinity to Bitcoin. McCarthy however, clarified that the reason behind his strong feelings for Bitcoin was its underlying blockchain technology.

He said,

“The real thing I like when it comes to bitcoin is I like blockchain because I like the security. I want the government to start using blockchain.”

Keeping up with the current trend of being “for Bitcoin” and “against Libra,” McCarthy stated that a major concern he had with Libra was its nature of “anti-competitiveness.” He claimed that major tech companies often buy into these ventures and then, they eliminate the competition. He also predicted that Libra would be giving its users the illusion of decentralization, when it will be completely under the control of certain authorities, namely the Switzerland-based consortium.

McCarthy concluded by saying,

“I want to see decentralization but it is right that Washington actually wants to ask these questions because Libra concerns me that they are going to control the market.”


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