Wrapped Bitcoin

Louisiana State Gives Bitcoin a pat, Commends BTC’s Founder

Following its rally to $60,000, the world’s most famous cryptocurrency, Bitcoin, has achieved growing adoption worldwide. Only recently, the American state of Louisiana passed a resolution stating several accomplishments of the digital token.

Representative Mark Wright said, “Therefore, be it resolved that the House of Representatives of the Legislature of Louisiana does hereby commend Satoshi Nakamoto for his contribution to economic security.” The local media outlets reported that the resolution was passed on Thursday.

The praise for the BTC and its founder came following the resolution’s pat on the back for its services towards ensuring financial security and its widespread global adoption, with Tesla, Mastercard, Visa, and Paypal, endorsing the payments in digital coins.

The resolution passed by the state’s legislature read, “To commend Bitcoin for its success in becoming the first decentralized trillion-dollar asset and to encourage the state and local governments to consider ways that could help them benefit from the increased use of this new technology.”

Since early this, amidst the pandemic outbreak, the famous digital token hit the $1 trillion market cap. The surge comes after its 2017 downfall from a record high price, which it regained later in 2020. The document presented in the Louisiana legislature pointed out several details surrounding BTC, including its decentralized nature, usage, and prevalence over traditional payment methods.

Additionally, the resolution also endorsed cryptocurrency as an alternative to gold investment. It stated that the digital token could potentially replace the rare mineral as it is “limited and finite,” stating that merely 21 million tokens are to be mined.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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