Ripple CTO Weighs in on Bitcoin Halving, Blockchain Advantages, and U.S. Treasury Conversion Debate

• Ripple CTO David Schwartz backed the conversion of US Treasuries into BTC.
• Schwartz additionally defended Bitcoin’s restricted provide, BTC halving, and PoW.
• Sen. Lummis mentioned that the Trump administration will convert US Treasuries into BTC in 5 years.

Ripple’s Chief Know-how Officer, David “JoelKatz” Schwartz, lately engaged in a debate on social media platform X (previously Twitter) relating to Bitcoin halving and the potential conversion of U.S. Treasuries into Bitcoin. Senator Cynthia Lummis lately said on the 2024 Bitcoin Convention that the Trump administration would convert extra reserves on the 12 Federal Reserve banks into Bitcoin over 5 years.

Paul Vigna, creator of “The Age of Cryptocurrencies,” criticized the idea of changing treasuries into Bitcoin, contemplating BTC’s excessive volatility. One other X person questioned the practicality of utilizing the blockchain when transaction charges rise with community congestion. The person additionally questioned whether or not utilizing a 3rd occasion in such a state of affairs will consequence within the lack of all the advantages of utilizing blockchain know-how.

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