Trump Gets It: Bitcoin Is a Bounty on Abundance Electricity Production

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As a seasoned researcher with a keen interest in the intersection of technology, economics, and politics, I find myself intrigued by the recent statements made by Donald Trump regarding cryptocurrencies. Having closely followed his presidency, I can attest to his ability to make bold and transformative decisions that reshape entire industries.

Jim Cramer playfully hinted at similarities between Bitcoin and the U.S. Strategic Petroleum Reserve when he enquired about the new administration’s crypto plans. Could we expect a comparable initiative from the White House in this context?

Trump replied with a nod, indicating his agreement, but it was the subsequent part of his response that demonstrated a deep-rooted comprehension of the crucial role cryptocurrencies play in the global economy, based on fundamental principles.

It could well be due to the thinking style of Elon Musk, a renowned tech engineer and efficiency advisor to the government, known for his belief that it’s more effective to approach problems by starting from basic principles instead of relying on analogies.

Trump Tells Jim Cramer’s About Crypto

“We’re going to do something great with crypto,” Trump told Kramer.

The reason is that we aspire to lead in the field of Artificial Intelligence (AI). As more countries are adopting this technology, our goal is to stand out as a leader rather than a follower. In essence, we aim to be at the forefront of AI development.

Later, Trump made a statement suggesting his deep understanding and conviction towards cryptocurrencies, rather than merely following the lead of figures like Elon Musk or his son Barron based on their advice.

He emphasized the necessity of generating a large quantity of electricity, which is astonishing considering we currently have less than half of what’s needed. Yet, he assured us that it’s achievable.

The Future History of The 21st Century

Since the 1970s, solar panel costs have plummeted at an extraordinary rate, similar to how the cost of computer microchips decreases according to Moore’s Law. This suggests that we could soon see a surge in affordable and abundant electricity generated by solar power.

Bitcoin isn’t just the latest form of digital currency on the internet; it’s also a sector that carries instant motivations towards fostering affordable, plentiful, and sustainable energy generation, particularly renewables.

Whenever advancements in energy-efficient Bitcoin mining chips match cutting-edge technology, the sole battleground for miners to compete becomes electricity costs. As it stands, they’re gearing up for a competition to maximize profits while minimizing these energy expenses – an aspect integral to their overall business strategy.

The possibilities of a smart electrical grid metered by blockchain platforms that are more articulately interchangeable with monetary currencies are scintillating.

Trump Appointments Bullish for Crypto

Prior to his inauguration on January 20th, Trump had already achieved significant victories in the field of blockchain and cryptocurrencies.

The proposed appointments of a Treasury Secretary, SEC Chair, and a White House official overseeing cryptocurrency (referred to as “Crypto ‘Czar’) indicate a positive trend that could potentially boost the value in cryptocurrency trading platforms.

According to Mr. Trump, two individuals are closely connected with the realm of cryptocurrencies, and one of them (the individual chosen by Trump for the role of SEC Chair) expresses a favorable view towards this sector.

  • US Treasury Secretary: Howard Lutnick
  • SEC Chair: Paul Atkins
  • Crypto and AI Advisor: David Sacks

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2024-12-24 23:18