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‘There’s Bitcoin and Then There’s Shitcoin (Libra)’. Congress Finally Gets It

Republican Congressman Warren Davidson put the spotlight on bitcoin and shitcoin - a marked dig at Libra. | Source: House.gov/Davidson
Republican Congressman Warren Davidson put the spotlight on bitcoin and shitcoin - a marked dig at Libra. | Source: House.gov/Davidson

Congress savaged Facebook’s cryptocurrency Libra during a two-day Congressional hearing this week. But Rep. Warren Davidson (R-Ohio) saved the best, and most brutal, comment for the end:

“There’s bitcoin, and then there’s shitcoin.”

His statement reveals something important. There is hidden support for bitcoin among ranking members of Congress.

Davidson joins other members of Congress who publicly praised bitcoin over the last two days.

“There’s no capacity to kill bitcoin”

Davidson’s comments weren’t the only pro-bitcoin statements in Congress yesterday. Ranking member of the Financial Services Committee Rep. Patrick McHenry (R-N.C.) praised bitcoin’s creator:

“The world that Satoshi Nakamoto, author of the bitcoin white paper, envisioned is an unstoppable force. We should not attempt to deter this innovation … those who have tried have already failed.”

Read the full story on CCN.com.