Peckshield: Hackers Steal IDR 5.66 Trillion Crypto in February 2024

Previously it was reported that former Coinbase Chief Technology Officer (CTO), Balaji Srinivasan, considered Bitcoin to be a 'political revolution'. He said the most popular cryptocurrency could be separated from the interests of a country.

This is said to be different from the currency currently used. Srinivasan detailed that by disrupting the way money is issued and the way governments confiscate existing wealth, Bitcoin will allow every citizen to build a voluntary network independent of the interests of his country.

“It (Bitcoin) allows people to freely decide from the start what collective they want to form, what public goods they want to crowdfund, and what they want to do together voluntarily as a society,” said Srinivasan, quoted from Bitcoin. com, Tuesday (5/3/2024).

He said Bitcoin would divide the country into two parties; countries that adopted Bitcoin early, such as El Salvador and Bhutan, and countries that failed to ensure the relevance and significance of its proposals.

This, Srinivasan stressed, will cause second parties to attack cryptocurrencies, reverting to their previous views.

He explained that these countries will “wonder whether Bitcoin has any use, going so far as to call it too powerful to leave to society. And then the confiscation efforts will begin,”.

The Indian-American investor has previously commented on Bitcoin's relevance. He said the sanctions of bitcoin exchange-traded funds (ETFs) in January were equivalent to a reversal of Executive Order 6102, which confiscated gold from US citizens in 1935.