Barry Silbert, CEO of the cryptomoney investment company Grayscale Investments and Digital Currency Group, believes the United States has passed the point of no return in order to ban Bitcoin.

In a call to Grayscale’s investors on July 16, the CEO said he was „cautiously optimistic“ about the chances that regulations in the United States will improve – or at least not get worse – for cryptomonies.

„For the first time in history, we have overcome the perceived risk of the ‚bitcoin ban,'“ Silbert said. „There is enough support in DC from politicians and regulators that Bitcoin Up has a right to exist and ultimately cannot be banned.

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The CEO said relations with regulators are much better because of efforts by groups such as the Blockchain Association, a group that advocates for many blockchain and crypto companies against the SEC, and Coin Center, a non-profit crypto advocacy group.

„As an industry, we’re doing much better than ever from a relationship perspective in DC. These two groups are educating policy makers about the benefits of this technology on this asset class. The catastrophic regulatory policy risk that may have previously existed in DC is now behind us.“

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The institutional demand for Bitcoin

Cointelegraph has reported that Grayscale reported a substantial increase in the inflow of cryptomonies for the second quarter of 2020, amounting to USD 905.8 million. This was an increase of USD 503.7 million in the first quarter.