Sam Altman, CEO of OpenAI and founder of Worldcoin, has delivered a powerful critique of the U.S. government’s stance on cryptocurrencies, particularly Bitcoin.
In an October 6 interview on “The Joe Rogan Experience” podcast, Altman expressed his excitement about Bitcoin, describing it as a “super logical” step on the technological evolution tree. He emphasized that having a global currency outside any government’s control is rational and vital for advancing technology.
Altman’s enthusiasm for Bitcoin extended to its potential as a world reserve currency. He argued that in a technologically enabled world, where transactions are increasingly digital, cryptocurrencies like Bitcoin could play a pivotal role in reducing corruption, which he noted is a significant obstacle to societal progress.
Joe Rogan, the podcast host, shared Altman’s optimism for Bitcoin, stating, “The real fascinating crypto is bitcoin, that’s the one that I think has the most likely possibility of becoming a universal currency…and I love the fact that it’s being implemented”.
Notably, Rogan highlighted Bitcoin’s limited supply and decentralized mining process as factors contributing to its unique appeal.
It’s worth noting that Altman’s support for Bitcoin isn’t recent. About a decade ago, he argued in a blog post that a world transacting in Bitcoin would be more transparent and, in turn, reduce corruption.
In his recent interview, Altman also expressed strong reservations about central bank digital currencies (CBDCs). He voiced concerns about the potential for CBDCs to enable increased government control over individuals’ financial transactions, leading to a surveillance state.
Altman further voiced his disapproval of the recent steps taken by the U.S. government in its handling of the cryptocurrency sector. Following the collapse of FTX last November, the U.S. government has notably escalated its examination of the cryptocurrency industry, with regulatory bodies such as the SEC and CFTC initiating legal actions against prominent cryptocurrency companies like Binance and Coinbase.
The businessman’s project, Worldcoin, has also faced challenges, with governments worldwide, including the US, banning its usage.
“I’m disappointed that the U.S. government has done recently, but the war on crypto…makes me quite sad about the country,” said Altman.
That said, Altman suggested that this approach might not be in the country’s best interest, expressing sadness about the direction it was taking.