• Crypto has been increasingly targeted by regulators and politicians.
• Despite the negative sentiment, crypto still holds value, especially Layer 1 protocols.
• Understanding speculation is key to understanding what drew people into crypto in the first place.
Crypto Increasingly Targeted
Cryptocurrency has recently come under fire from regulators and politicians, with Senator Elizabeth Warren (D-Mass) even going so far as to call for an “anti-crypto army”. CoinDesk has reported on the federal government’s crackdown on crypto and the Biden administration’s politicization of it, but instead of focusing on this negativity, it’s important to remember why people were initially attracted to cryptocurrency in the first place.
Layer 1 Protocols Have Value
Despite all of this criticism, there is still value in cryptocurrency – particularly Layer 1 protocols. These are the base layers that enable blockchain technology and are often overlooked by those who don’t understand enough about how cryptocurrency operates – including some politicians who may not want this sector to exist at all.
Speculation is a dirty word for many when it comes to investing in cryptocurrencies, but one must remember that no one invests with the expectation that their asset will decrease in value. People were drawn into crypto because of speculative interest back in 2018 – something which can still be seen today if you look at individual cryptocurrencies, defi protocols, and crypto-based funds owned by investors around the world.
Focus On The Bad Actors
Rather than targeting cryptocurrency itself or its investors, we should shift our focus towards bad actors who manipulate markets or use blockchain technology for illegitimate purposes. If we can successfully do this then more people may begin to see past any negative sentiment surrounding digital assets and recognize their real potential as valuable investments within portfolios worldwide.
To conclude, while sentiment concerning cryptocurrency remains largely negative due to recent developments such as Senator Warren’s tweet calling for an “anti-crypto army”, this should not detract from its long term value which lies primarily within layer 1 protocols and speculation amongst investors looking for alternative portfolio options outside of traditional finance markets.