A resolution by the majority has been signed and made public by the State of Louisiana in which the state has appreciated the mysterious inventor of Bitcoin as well as the crypto industry. Both have been commended for innovating means to help and revive economies and introducing the concept of “economic security”. Bitcoin’s market capitalization over US$ 1 Trillion was also noted and special thanks were mentioned at the end of the Resolution which was accordingly signed by the Speaker of the House.
A US state-originated resolution has been passed by Louisiana State Senate in which Bitcoin and the overall crypto industry have been cherished.
The Resolution named House Resolution 33 was presented by Senator Mark Wright and thereafter signed by the Speaker of the House accordingly. The Resolution stated that it has been passed for the purposes of commending the success and growth of Bitcoin. The Resolution also highlighted the fact that Bitcoin is now the world’s first cryptocurrency having crossed the 1 Trillion-Dollar mark in terms of market capitalization. It has been further noted in the Resolution that the government policy should be to encourage its adoption. Local Governments too were urged to ensure lending their support to Bitcoin and the crypto industry and making good use of the blockchain technology.
The Resolution further went on to describe the various benefits as well as attributes of Bitcoin. Bitcoin’s inception was also discussed and the mysterious innovation of Bitcoin namely Satoshi Nakamoto was also appreciated. It was suggested in the Resolution that Bitcoin is capable of overpowering any monetary reserve, including the gold. Also, the Resolution discussed the security and efficiency features of crypto transactions and praised its non-dependence over any third parties.
It was further recognized in the Resolution that Bitcoin has transformed itself into a tool that is essential for businesses. It was also noted that Bitcoin protects its owners from the debasement of traditional fiat.
Cryptocurrencies such as Moxey and Ethereum too were appreciated in the Resolution. For instance, it was pointed out with regard to Moxey that the currency is serving its intended purpose towards the citizens of Louisiana. With regard to Ethereum, the Resolution stated that potentially Ethereum is going to become the new normal in the coming future. Ethereum’s efficiency of executing transactions efficiently and having multifarious usage makes Ethereum one of the greatest inventions taking place in the crypto sphere.
At the end of the Resolution, a statement was made which was authored by collective members of the House of Louisiana Senate. In the statement, the Senators have wholeheartedly appreciated and thanked Bitcoin and its inventor Satoshi Nakamoto. In addition, the role of Satoshi Nakamoto and Bitcoin over the years has been fully acknowledged and endorsed by the majority representation of the House. Bitcoin has been commended for providing utmost opportunity, reviving the economy, and introducing the concept of “economic security”.