I wonder what he means, does this guy have enough knowledge about Bitcoin to understand in what ways the federal reserve could actually get involved.
Sometimes I think some of these reps believe they or the gov or any entity can just take over bitcoin when they want.
I think he means that in the case of severe international strife or a recession, people would turn to their govt and the dollar instead of bitcoin. (Remember that bitcoin was released AFTER the great financial crash and became mainstream in 2013 when the economy had recovered).
Whether he is right or not is another question. I think middle america does trust the dollar, but in the rest of the world, people might prefer bitcoin.