Barry Silbert, CEO of cryptocurrency investment firm Grayscale Investments and Digital Currency Group, believes the United States is past the point of no render for banning Bitcoin.

In a Grayscale investor call on July 16, the CEO said he was "cautiously optimistic" about the chances of regulations in the U.S. improving or at least not getting worse for the cryptocurrency.

"For the first time always, we are past the 'ban bitcoin' perceived take a chance," Silbert said. "In that location's enough support in DC from policy makers and regulators that Bitcoin has a right to exist and ultimately you can't shut it downwards."

The CEO said relationships with regulators are much meliorate off due to the effort made past groups including the Blockchain Association — a grouping speaking out in favor of many blockchain and crypto companies in front of the SEC — and Coin Middle, a not-turn a profit crypto advocacy group.

"As an industry, we're just much better off than we've ever been from a relationship perspective out in DC. [These two groups are] educating policy makers around the benefits of this technology in this nugget class. The catastrophic regulatory policy risk that perchance would accept existed previously in DC is behind usa."

Institutional need for Bitcoin

Cointelegraph has reported that Grayscale reported a substantial increment in the inflow of cryptocurrencies for Q2 2022, which totaled $905.8 million. This was upward from $503.7 million in Q1.