Business News Report
August 31, 2023

Grayscale’s Impressive Rise Bolsters Vivek Ramaswamy’s Bitcoin Outlook

In Brief

Vivek Ramaswamy believes that Grayscale’s recent legal triumph against the Securities and Exchange Commission signifies a pivotal step towards preserving Bitcoin and blockchain innovation within American borders.

This viewpoint resonates with a wider discourse in the cryptocurrency sphere, where apprehensions about the SEC’s regulatory methods have sparked debates about the potential migration of crypto enterprises and creators.

Grayscale Triumph Fuels Vivek Ramaswamy's Vision for Bitcoin's Future

Vivek Ramaswamy, a Republican Presidential candidate and entrepreneur, is amplifying his optimism for the future of Bitcoin.

The candidate believes that Grayscale’s recent legal triumph against the Securities and Exchange Commission signifies a pivotal step towards preserving Bitcoin and blockchain innovation within American borders. 

“This decision is strong and clears a path to keep Bitcoin and blockchain innovation in the U.S. instead of overseas,” wrote Vivek Ramaswamy in an X (Twitter) post on August 30. “But this should have never reached the courts in the first place.”

Ramaswamy’s perspective underscores the broader role of federal courts in ensuring innovation amidst concerns about regulatory influence. 

This potentially reduces the need for innovation to relocate abroad. This viewpoint resonates with a wider discourse in the cryptocurrency sphere, where apprehensions about the Securities and Exchange Commission’s regulatory methods have sparked debates about the potential migration of crypto enterprises and creators. 

The U.S. District of Columbia Court of Appeals ruled in favor of Grayscale Investments in its lawsuit against the Securities and Exchange Commission On August 29.

This ruling could greatly affect the cryptocurrency industry as it allows Grayscale to launch a Bitcoin-linked exchange-traded fund (ETF).

The event heightened Ramaswamy’s optimism regarding Bitcoin and its possibilities. Notably, the candidate’s stance resonates with a faction of crypto-friendly Republican legislators pushing for alterations in SEC leadership.

Amidst the unfolding presidential race and the increasing prominence of cryptocurrency in the financial ecosystem, Ramaswamy’s perspective on Bitcoin remains influential.

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About The Author

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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Valeria Goncharenko
Valeria Goncharenko

Valeria is a reporter for Metaverse Post. She focuses on fundraises, AI, metaverse, digital fashion, NFTs, and everything web3-related. Valeria has a Master’s degree in Public Communications and is getting her second Major in International Business Management. She dedicates her free time to photography and fashion styling. At the age of 13, Valeria created her first fashion-focused blog, which developed her passion for journalism and style. She is based in northern Italy and often works remotely from different European cities. You can contact her at [email protected]

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