Former leader of the UK’s Independence Party (UKIP) Nigel Faragerecently announced its support for cryptocurrencies and especially Bitcoin at the “Bitcoin Amsterdam” conference and described BTC as “ultimate freedom”.
Farage has long been known as a skeptic of the European Union, and has in the past been known for voicing his “anti-establishment” views on issues such as denouncing the wars in Iraq and Afghanistan, questioning climate change data, and opposing bank bailouts.
“What I think is in Bitcoin is simple; I see an economic revolt and a movement led and led by people who are concerned about the size and scale of great government.”
The former MEP (Member of the European Parliament) also underlined that he first discovered Bitcoin 10 years ago while working in the financial markets industry, that is, before starting his political career.
“I’ve always had a very close ear to the ground in terms of financial development. That’s why I heard about Bitcoin very early.”
At the time, Farage stated that he had reservations about the new monetary concept, but also explained that over the years, he warmed to this new technology as inflation continued to worsen.
“The money sickness and inflation in the markets are back, I remember when I was much younger, there was a similar inflation and believe me, this is it. inflation It will take longer than you expect…”
“If we look at Bitcoin, its appeal was more like the ‘gold standard’ appeal. There is a certain supply and it is not possible to change it…”
Commenting on the future of Bitcoin adoption in Europe, Farage thinks the integration timeline will likely be influenced by the US approach to regulating crypto.
“What happens in America first happens here as well. There will be a very, very big change here in the next two or three years, and Bitcoin will be considered a reliable medium of exchange.”
When comparing Bitcoin to banking, Farage thinks that the latter, banking, is inefficient, costly and very slow, and he believes Bitcoin is a more attractive option over the existing infrastructure.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.