The Louisiana House of Representatives has passed a resolution praising Bitcoin and encouraging state and local governments to explore ways to use the cryptocurrency. The resolution, signed by Speaker Clay Schexnayder, a Republican, lauds Bitcoin “for its success in becoming the first decentralized trillion dollar asset,” and notes that it “could potentially replace gold as a monetary reserve.” The resolution said Bitcoin has benefited businesses and has “proven to be a critical tool for citizens around the world to protect themselves from currency debasement .” Sean Culkin, who previously played for the Los Angeles Chargers, will have his entire NFL salary converted into bitcoin in 2021. Photo by Rey Del Rio/Getty Images It praised Satoshi Nakamoto, the pseudonym used by the engineer or team of engineers who created Bitcoin in 2009, for “his contribution to economic security.” Does the resolution underscore growing acceptance of Bitcoin, or does it suggest a market top? In 1929, Joseph Patrick “Joe” Kennedy, father of President John F. Kennedy, said he knew it was time to get out of the stock market when he got investment tips from the man who shined his shoes. He shorted the then-rampaging market and became a multi-millionaire. The market… Read full this story
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