In a strange move, American politicians have begun endorsing Bitcoin as a good way to launder money in order to avoid taxes. It appears they are understanding the extent of their overreach and see Bitcoin as a way to average citizens to protect themselves from their policies. This week, Janet Yellen, Joe Biden, Hillary Clinton, and Gary Gensler have all come out in support of Bitcoin as a good way for individuals to hide their wealth from politicians.
So here's the breakdown of what each politician has said this week:
Yellen: "Since Bitcoin sign guy showed up to the congressional hearing I was at when I was the Chair of the Fed, Bitcoin has grown not only in value but adoption. It's a serious threat to our ability to fund all the wars we want to wage, but also just our general ability to tax the poors. We can go and seize funds from bank accounts but we cannot go and seize funds from Bitcoin wallets. If people start using Bitcoin more regularly, it will make it impossible for us to tax the shit out of the population."
Biden: "My son Hunter has been using Bitcoin for a while but you won't see that in the court cases because he has used it smartly. I don't you know understand the technology, but it seems like a problem for the US government."
Clinton: "I really hate Bitcoiners. Their memes are too on point and it's making it really difficult for me to pretend like I'm a somewhat moral human being. Even the boomer NPCs are giving me dirty glares these days. Their anti tax redirect, and general defiance of the US Federal government is a serious threat to our democracy."
Gensler: "I'm really afraid that when the ETF gets released, things will get out of control. We are trying to push legislation behind the scenes to make self custody incredibly difficult and only allow people to own paper Bitcoin. This is the only way we can stop people from defying the Federal governments mandates."
What all this means
There's a great chance that all these politicians are currently working furiously to stack as much Bitcoin as they possibly can. Their public endorsements show that they are realizing how little control they actually have over users of Bitcoin, but also the network itself. Anyone paying taxes right now is likely going to funding politicians Bitcoin stack, but also attempts to prevent you from building a bigger stack.