Canadian Protest | Strongest Bitcoin Opponent Changes Stance: "I Was Wrong, Bitcoin Has its Necessity!"

Canadian truck drivers protesting mandatory COVID-19 vaccinations have sparked increased activity in cryptocurrency donation accounts, replacing frozen bank accounts, leading to a shift in stance for some who were previously against cryptocurrencies.

Ruby on Rails Web (Rails) developer David Heinemeier Hansson wrote on Twitter: "I still can't believe how the protest has proven Bitcoin to be a prophet. But I have to humbly admit that I was wrong, in Western democratic countries, cryptocurrency is fundamentally necessary."

In an article titled "I Was Wrong, We Need Crypto," Hansson expressed that he has been skeptical and opposed to Bitcoin and the entire cryptocurrency industry since the early 2010s. His reasons for opposing Bitcoin were based on cryptocurrency's energy consumption, transaction fees, lack of true decentralization, and involvement in fraud issues like Tether USDT stablecoin.

Hansson believes that all these arguments do not provide enough reason to overlook cryptocurrencies as tools to support freedom and democracy, "Now I am clear that I was too hasty and cannot entirely refute cryptocurrencies based on all current issues. This is our best protective measure at the moment."

This article is authorized for reprint from Horizon News Network