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The Biden administration released a report a couple of months ago on its "Roadmap to Mitigate Cryptocurrencies' Risks." The report is full of empty platitudes about protecting consumers and investors, but it's clear that the real goal is to stifle innovation, instill fear, and control Bitcoin users.

One of the main concerns raised in the report is that Bitcoin could be used for criminal activity. Criminals will use any available tool to facilitate their misdeeds. It’s important to remember, though, that cash is still by far the most popular way to pay for illegal goods and services. Studies have actually found that Bitcoin is used far less than fiat in criminal activity.

The report also argues that Bitcoin could pose a threat to financial stability, which is laughable, because the traditional financial system is actually wildly unstable all by itself. How else do we explain why there are recessions, market bubbles, and other financial catastrophes every few years?

The real reason the Biden administration is so concerned about Bitcoin is that it poses a threat to the government’s power: Bitcoin is a decentralized currency that is not subject to government control, so it can be used to bypass the financial system and escape government surveillance.

The Biden administration's Bitcoin roadmap is a smokescreen. The actual goal is to control and manipulate people and to prevent them from using Bitcoin to escape government control.

In the hopes that I can bring someone further into the Bitcoin space, I'd like to start June off by gifting some Bitcoin. Participating in this Bitcoin giveaway is easy:

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Good luck on your Bitcoin journey!