Bitcoin’s Political Dependence Is Becoming Impossible to Ignore
Bitcoin has repeatedly been described as an asset independent of traditional politics, but recent market movements suggest otherwise. The US midterm elections have renewed concerns about the future of crypto-friendly legislation, and investors are reacting to the possibility of regulatory changes. I find it interesting that an asset designed to operate outside government control can still be so sensitive to political developments. Perhaps decentralised technology and independent market behaviour are two very different things. Has Bitcoin become too dependent on political developments to function as an independent financial asset?
