Right-wing political commentator Ben Shapiro says Bitcoin will increase in popularity as Americans lose faith in centralized governments.
Speaking in a recent YouTube video titled “Bitcoin: The Future of Finance or Fool’s Gold?”, Shapiro told followers the current market for cryptocurrency would become less volatile over time as big names adopt the technology.
Shapiro singled out Elon Musk and Tesla’s $1.5 billion endorsement in Bitcoin, saying “the more Elon Musks you have buying Bitcoin, the more faith there is that Bitcoin is a real thing.”
Whether those [cryptoassets] succeed or fail is largely and actually entirely based on the public view of whether those things are going to succeed or fail.
Shapiro added that Bitcoin would become increasingly attractive as people seek to escape reliance upon fiat and centralized governments.
I think as we have less and less faith in centralized governments, and it seems to me that we are right now, as that happens more and more, I think you’re going to see more and more people looking to diversify away from fiat currencies and instead moving into places like Bitcoin for actual safety and security.
Shapiro argued that government fiat could be increasingly viewed as volatile in the future, flipping the narrative of Bitcoin’s current price volatility.
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