Massive ‘Inevitable’ Bitcoin Prediction Made By Malta’s Prime Minister

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Bitcoin, cryptocurrencies and blockchain have already been embraced by the government and people of Malta — which has tried to establish itself as the world’s “blockchain island.”

Now, in an address to the United Nation’s General Assembly, Malta Prime Minister Joseph Muscat has said he sees blockchain technology as the tool which will allow Bitcoin and crypto to “inevitably” gain widespread, mass adoption and become the future of money.

Muscat has previously said he believes Bitcoin and blockchain have the ability to eliminate third party service providers, giving users more freedom over information and money.

Malta’s Prime Minister Joseph Muscat is a die-hard supporter of Bitcoin, cryptocurrencies and blockchain and branded Malta as “the blockchain island.”YouTube / United Nations

“I passionately believe technology revolutionizes and improves systems,” said Muscat. “This is why in Malta, we have launched ourselves as the blockchain island.

“By being the first jurisdiction worldwide to regulate this new technology that previously existed in a legal vacuum. Blockchain makes cryptocurrencies inevitable future of money. More transparent it helps filter good business from bad business.”

Malta’s attitude to Bitcoin and blockchain has been praised by the global cryptocurrency industry, with the CEO of Binance, Changpeng Zhao, saying the company will be investing in Malta to help grow its local blockchain industry and local cryptocurrency companies.

Muscat’s praise of Bitcoin and blockchain come as countries around the world grapple with how best to regulate and rein in Bitcoin and cryptocurrency companies, which many regard as operating outside of the law.

Last month the industry was labelled a “wild west” by the British government as it promised to bring the burgeoning sector under better regulatory scrutiny to prevent money laundering and reduce risk to investors.

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