David Vance

<ul class="news-points">
 <li>Ripple CTO David Schwartz backed the conversion of US Treasuries into BTC.</li>
 <li>Schwartz also defended Bitcoin’s limited supply, BTC halving, and PoW.</li>
 <li>Sen. Lummis said that the Trump administration will convert US Treasuries into BTC in 5 years.</li>
</ul>
Ripple’s Chief Technology Officer, David “JoelKatz” Schwartz, recently engaged in a debate on social media platform X (formerly Twitter) regarding Bitcoin halving and the potential conversion of U.S. Treasuries into Bitcoin. Senator Cynthia Lummis recently stated at the 2024 Bitcoin Conference that the Trump administration would convert <a href="https://x.com/SenLummis/status/1817337985492226154" target="_blank" rel="noopener noreferrer nofollow">excess reserves at the 12 Federal Reserve banks</a> into Bitcoin over five years.
Paul Vigna, author of “The Age of Cryptocurrencies,” criticized the concept of converting treasuries into Bitcoin, considering BTC’s extreme volatility. Another X user <a href="https://x.com/Bit_Faced/status/1817732373829517498" target="_blank" rel="noopener noreferrer nofollow">questioned the practicality</a> of using the blockchain when transaction fees rise with network congestion. The user also questioned whether using a third party in such a situation will result in the loss of all the benefits of using blockchain technology.
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 No matter how many times you say it, it won't stop being completely ridiculous. Limiting the…
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The post <a href="https://coinedition.com/ripple-cto-weighs-in-on-bitcoin-halving-blockchain-benefits-and-u-s-treasury-conversion-debate/" rel="noopener noreferrer nofollow">Ripple CTO Weighs in on Bitcoin Halving, Blockchain Benefits, and U.S. Treasury Conversion Debate</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

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

Coin Edition

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