Former U.S. Congressman Ron Paul says he still believes that the government could outlaw bitcoin mainly because he is “influenced a whole lot by history and the gold history.” Despite his warning, Paul stressed that crypto “should be obviously permitted.”

Ron Paul discusses Bitcoin as Interest In Crypto Rises

Former presidential candidate Ron Paul spoke out about the future of Bitcoin and the economic consequences of the Russia-Ukraine conflict in an interview with Michelle Makori of Kitco news.

Paul, an American author, doctor, and retired politician, is Paul. The former representative from Texas launched The Ron Paul Liberty Report in 2015 to bring “provocative opinion and analysis to the breaking issues affecting our lives and finances,” its website details.

The former congressman repeatedly warned that the government might crack down on Bitcoin. “My concern is that governments have always been very keen to control the money. Believe me, they will not give up control of money,” he described.

However, bitcoin interest has increased recently as more institutional investors support the ecosystem. This week, the Ukrainian government created a legal framework for cryptocurrency following the invasion by Russia. It also set up an official crypto donation website. Moreover, BTC is currently legal tender in El Salvador.

Paul was asked if he believes bitcoin is at high risk of being banned or outlawed. He responded

Yeah, I do, mainly because I’m influenced a whole lot by history, and the gold history, and my interest in studying money and some of the principles that Austrian economics teaches about what the nature of money should be.

Nonetheless, Paul emphasized:

But that doesn’t sway me from arguing the case for those who know about crypto, who understand it better than I do, that it should be obviously permitted. It is not something that everyone understands so I’d be cautious.

He shared that he was trying to determine if the stock [bitcoin] is more like a bond, a stock, or a hard asset. It seems to be tracing stock prices .”

, according to different statistics.

In June 2013, the ex-congressionman stated that he wanted bitcoin to be completely legalized in order to allow it to compete with the U.S. Dollar and to let the people decide. “My goal is legalize competition and let the people decide. Freedom of choice will sort it out,” he opined.

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