Raoul Pal, the co-founder of finance and business media platform Real Vision and outspoken Bitcoin bull, is offering his take on what would happen if the US tries to ban Bitcoin.
In a new interview with Bankless, Pal says he believes such an attempt to ban Bitcoin would be futile.
While many use Franklin Delano Roosevelt’s (FDR) attempt to forbid the hoarding of gold coin, gold bullion, and gold certificates in 1933 as a precedent for the potential banning of Bitcoin, Pal notes that the effort completely backfired and resulted in people finding other ways to get gold.
“This FDR thing comes up a lot. It was only the US that tried to ban it and the gold price went up and it didn’t work. So everybody else used gold, so there is exactly the example I’m using: if you ban one group from using gold, guess what? Switzerland exploded because the US