Ever since Bitcoin (BTC) was launched through the internet, it was not only the world’s first cryptocurrency but the largest as well. Since its launch, Bitcoin (BTC) has maintained its position as the largest cryptocurrency by market capitalization and price.
Despite many cryptocurrencies come up with different ideas and products, still, Bitcoin (BTC) has remained at the top. The reason behind its current reputation and significance is because it is the first-ever cryptocurrency that started it all.
It is considered somewhat the flag-bearer of the entire cryptocurrency industry as Bitcoin (BTC) was launched with the very idea of decentralization. This is where it all started and competition between the traditional finance industry and decentralized financing began.
Even when Bitcoin (BTC) launched, it faced tremendous resistance and opposition from the traditional finance sector. Not only the traditional finance sector, but even the regulatory authorities from all over the world have opposed it.
The regulatory authorities from all over the world have made several efforts to shut down Bitcoin (BTC) for good. However, all efforts made by the regulatory authorities plus the traditional financial institutions have all gone in vain.
Ever since Bitcoin (BTC) started gaining momentum in late 2020, the regulatory authorities have also become more active against it. Different countries and regions have started opposing Bitcoin (BTC) on a large scale.
Several regulatory authorities from different regions have started issuing warnings to their locals intimating them about Bitcoin (BTC). They have warned them about the risks involved in investing their money in Bitcoin (BTC). Even now, the regulatory authorities have been making several attempts to remind people of Bitcoin’s (BTC) volatility.
All these efforts are being made by the regulators with the aim to shut it down completely. Despite all the efforts, the regulators will not be able to take down Bitcoin (BTC), says Cathie Wood, the CEO, and founder of Ark Investment.
Cathie Wood has stated confidently that the regulators will not be able to shut down Bitcoin (BTC), which exists as the foundation of the entire cryptocurrency industry.
Wood stated that even in the past, the regulators, as well as the traditional financial institutions, have made several attempts to take Bitcoin (BTC) down. Even then Bitcoin (BTC) has managed to emerge as the winner and will continue with the same trend.
Even when Bitcoin (BTC) did not have much reputation and adoption rate, the regulators were not able to take it down. Now, when Bitcoin (BTC) is the largest cryptocurrency by market capitalization and has mainstream adoption under its belt, it is impossible to achieve that.
Even when Bitcoin (BTC) is facing the current situation with its price and adoption rate, the regulators will have a hard time putting a scratch on its reputation.