Saturday, May 21, 2022

Breaking: Israel’s Top Minister Netanyahu Hails Bitcoin as Bank Killer

Breaking: Israel’s Top Minister Netanyahu Hails Bitcoin as Bank Killer

In Brussels for a series of diplomatic talks, Israeli Prime Minister Benjamin Netanyahu surprisingly plugged Bitcoin in bold new remarks to the press. Notably, Netanyahu himself seemed to suggest Bitcoin will be responsible for killing banks over the next several years.

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Netanyahu: BTC Rally Because of Its Potential

In a new video posted to Twitter, Netanyahu apparently hailed the current bitcoin price rally as a sign of the number one cryptocurrency’s potential to be an extinction-level event for traditional banks.

“Apparently” is the keyword here because the video in question hasn’t been independently translated yet.

But, if the original poster’s translation is taken at face value, Netanyahu’s comments are provocative to say the least. In a non-prepared and casual chat with journalists on December 12th, Netanyahu was allegedly asked about BTC’s recent acute upward surge.

The Prime Minister’s alleged response, translated from the original Hebrew by Twitter user and self-professed “Bitcoiner” Udi Wertheimer:

“The reason you can’t sell money, is because you’re concerned … you require a middleman to facilitate trust. To prevent risk, theft, etc. That’s what banks are for. Are banks going to eventually disappear? Yes. The truth is that this is what’s pushing Bitcoin prices upwards.

And, per Wertheimer, Netanyahu tempered his comments by suggesting this rally won’t last forever:

“No way a parabolic rise continues. It’s not possible.”

If interested, you can check out the original Twitter thread here:

Or, if you’d like to watch the raw, untranslated segment in Hebrew, try this video below. You can clearly hear Netanyahu mention Bitcoin toward the end of his comments:

We’ve Heard from the Jamie Dimons … Now Expect the Politicians

Of course, there’s no shortage of Bitcoin punditry throughout the globe right now.

In 2017, we’ve heard soundbite after soundbite from more traditionally-minded finance professionals like JPMorgan’s resident Bitcoin troll Jamie Dimon. What the space has been missing, though, has been comments from big-wig, influential Western politicians.

Love him or hate him, Netanyahu is one of these politicans. And it’s crucial hearing Bitcoin-related comments from him because it’s people like him (i.e. world leaders) that are in a position to play a powerful role in how cryptocurrency regulations unfold throughout the world.

Will other world leaders come around, too?

Not that Netanyahu can wave a magic wand and make crypto legal or illegal globally in the blink of an eye.

It’s just that Israel is a major world power, and “Bibi” is its leader. Accordingly, everyone on the global political stage is watching how everyone else reacts to Bitcoin, and Netanyahu’s new remarks will prove tangibly influential going forward in light of this dynamic.

What do you think? Are Netanyahu’s new comments a big deal or a nothingburger? Be sure to sound off in the comments below!

Images via NBC, The Telegraph

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