It is now no secret that the Biden administration has been conducting a large-scale operation for several weeks to try to destroy the cryptocurrency industry.
Everything is being done to harm the main players in the sector and the lawsuits from the SEC or the CFTC keep multiplying.
All players are concerned: from Binance to Coinbase through Kraken. And the list could go on and on.
We can see that the American authorities have chosen the exchange platforms as a point of attack in addition to the banking sector which is being forced little by little to reduce its support for the cryptocurrency industry.
An interesting figure appears today that confirms what I just told you.
Globally, the number of Bitcoin ATMs installed worldwide has dropped by 14% since December 1, 2022.
Since the beginning of 2023, we can see that the number of installed Bitcoin ATMs has been falling steadily, which is unprecedented since the deployment of these Bitcoin ATMs began several years ago.
If you zoom in a bit more, you can see that the problem is mainly in America.
Most of the Bitcoin ATMs that have been removed are from America.
This confirms the attempt of the American government to do everything possible to cut off access to Bitcoin for the general public.
If Bitcoin cannot be banned, we can see that the interest here is to harm access to Bitcoin via ATMs, exchange platforms, and banks which will be less and less allowed to work with these platforms.
With this in mind, you might wonder why the US authorities are looking to destroy the cryptocurrency industry.
Some may naively think that the U.S. authorities are trying to protect the general public from the danger posed by Bitcoin and cryptocurrencies.
It would be naive to think that.
Indeed, the real interest of the American authorities is to prepare the ground for the future arrival of the digital dollar. A digital dollar that the Fed is working on no matter what it wants to say.
Once the cryptocurrency industry has been sufficiently damaged, it will be time to introduce this digital dollar which will then be presented as the US government's answer to the challenges of tomorrow's digital world.
As an individual, this digital dollar will be even worse for you than the US dollar is now. In addition to the risks of monetary inflation, there will be even worse risks in terms of privacy.
You will have no alternative and will be forced to do what the state tells you with your wealth.
This is why you should already be looking for options to keep your way out.
Bitcoin seems to me to be just the thing for that. And that's why you should do everything you can to understand the reason for Bitcoin before it's too late.
Too late? Yes, before governments passed laws to prohibit its use.
It sounds like a dystopian future I'm presenting to you, but it's a very real risk.
It's up to you to decide if you want to cover yourself against this risk or not.
Bitcoin Ends Q1 2023 at +72%. Some Musings on What’s in Store for the Market in April 2023.
The monthly resistance at $28.8K has not been broken, but even so, it is still not time to be Bearish.
Link: https://inbitcoinwetrust.substack.com/p/bitcoin-ends-q1-2023-at-72-some-musings
