Analyst Preston Pysh warns Bitcoin faces macro risk and could delay mass adoption

[ad_1]

Market analyst and podcaster Preston Pysh says Bitcoin (BTC) is at risk of falling prey to a big political push that could delay BTC adoption.

In a new interview, Pysh says the story that Bitcoin fails the environmental, social and corporate governance (ESG) test could be used to curb the growth of the flagship cryptocurrency.

“I think the whole ESG could get some type of political support. Like I was going to throw risks, I think it’s important for people to be realistic, and some of the risks might arise.

But I think the risk would be that you have a great nation state, and let’s just take the United States as an example. Let’s say there’s a lot of political pressure that Bitcoin is a threat to the dollar, and let’s use the ESG narrative as our tool to try and really stop this from proliferating across the country. And we’re going to use the exchanges, and we’re going to use mining, and try to force them not to mine and all that sort of thing. You could go that route.

The market analyst says that if such a surge were to occur, it would delay the adoption of Bitcoin by a few years.

“The thing that’s going to happen, at least what I would expect, is that it’s just going to push Bitcoin adoption further down the timeline.

So if you take out some of the big Chinese players, take out the United States. Say you do it with maybe the G7 [The Group of Seven] sort of teams, and they’re all trying to deal with this ESG thing, and they’re trying to shut down all mining and so forth. I think Bitcoin would be delayed for several years thanks to this type of effort. “

I

Don’t Miss a Beat Subscribe to receive crypto email alerts straight to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check the latest headline news Disclaimer: the opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making high risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are at your own risk and that any loss you may suffer is your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in Affiliate Marketing.

Featured Image: Shutterstock / Deviney Designs

[ad_2]