Blockstream Chief Strategy Officer, Samson Mow, believes that regulators' hostility towards Bitcoin could be a "double-edged sword" for the organizations themselves.
Mow said that bitcoin really solves a large number of problems of the traditional financial industry, for example, inflation. In his opinion, the countries of the world will have to accept cryptocurrencies because of their advantages, and the hostility of regulators towards Bitcoin can destroy the credibility of them.
"They might be hostile to it. But the thing is hostility to Bitcoin is a double-edged sword like if you are in power and you ban Bitcoin, and you fall out of power, then you're screwed. [...] People need to be careful when they are enforcing regulation and creating all this policy because you could be on the other side of the sword, down the road if you fall out of favor,"said Mow.
He also stressed that Bitcoin gives users a new level of freedom, because it is decentralized and deflationary, and over time, people will understand the benefits of the first cryptocurrency.
"Bitcoin is allowing you to make the transactions that people don't want you to make. It's essentially digital freedom,"he said.
Recall that recently the founder of Fundstrat, Tomas Lee said that the actual number of users of Bitcoin does not exceed 500,000, and the estimate of 50 million is significantly overstated.