The United States and the presidential circle are all-in on Bitcoin while Europe continues to widen.
In short
- Two sons of Donald Trump launch the American Bitcoin minor.
- France remains to absent subscribers despite its surplus of nuclear electricity.
- Bitcoin, the future reserve currency of the United States.
The Trump Family Mine of Bitcoins
We know that the company of the American president, Trump Media & Technology Group, bought for two billion dollars of bitcoins in July. But that's not all. Two sons of the American president launched last March the American Bitcoin minor.
It is a subsidiary owned 80 % by Hut 8, another American minor. A fellowship is scheduled for September. Hut 8 displays a computing power of 8.85 EH/S (Exehashes per second), against 10 eh/s for American Bitcoin.
The company recently finalized the purchase of 16,299 S21 antiminers manufactured by Bitmain, for an amount of $ 314 million. The financing plan indicates the intention to acquire 15 additional eh/s, which would bring the total to 25 eh/s.
The group would then become the fourth largest American minor, behind Marathon (~ 50 eh/s), Cleanspark (~ 40 eh/s), Riot (~ 31 eh/s). Knowing that the world hashrate has just reached 1 zh/s, or 1,000 eh/s.
The United States controls approximately 35 % of the world hashrate, against approximately 17 % for Russia and 15 % for China. Better still, The Block company has just launched machines rivaling with those of Bitmain Chinese. In other words, the country is largely sovereign about the question.
There are signs that do not deceive. The American president's interest in Bitcoin is not pretended and all this suggests that the United States will indeed make bitcoin their reserve currency.
It is precisely The objective of senator Cynthia Lummis and her bill “Bitcoin Act”. The latter plans to sell part of golden stocks to accumulate one million bitcoins.
Meanwhile, Europe remains on absent subscribers, not even able to recognize that Bitcoin is the missing link in the energy transition. It's truly heartbreaking.
Bitcoin can absorb surplus nuclear electricity
We have on the old continent the leaders of the Bitcoin Wallets (Ledger, Trezor), but no major minor. And yet, there would be much to do if the French and German ecological political parties really dug the subject.
Indeed, the balance of the electrical network by demand appears more and more essential to accommodate the development of intermittent energies and the puzzle they represent for network managers.
Forcing nuclear power plants to constantly modulate their electricity production to compensate for the intermittent wind power is not tenable. These untimely judgments damage them. What a mess, especially at a time when we are looking for tens of billions to build six new reactors.
On the contrary, we should enhance our surplus electricity by mining bitcoins. This would preserve our energy heritage, while offering a significant financial windfall to EDF which sorely needs it.
Bitcoin minors have that very practical that they offer a real -time load shedding solution to network operators who can then do without the expensive “advanced” central centrals supposed to take over in an emergency.
This symbiosis between bitcoin and energy minors already exists in Texas. This works so that the local network manager (ERCOT) recently canceled the construction of several gas power plants. For what ? Because minors can return to the network more than 3 GW instantly and without time limit.
Bitcoin, a geostrategic imperative
Beyond the services it can render to energy, Bitcoin statelessness is above all a reserve currency in power.
He will have escaped anyone that the BRICS, led by Russia and China, no longer want to finance the American debt by placing their exchange reserves. This distrust is not unrelated to what is happening in Ukraine …
The American debt of $ 37,000 billion worries the whole world. Americans live far above their means. Result: the greenback has lost 40 % of its purchasing power over the past ten years.
Admittedly, treasury bills report interest, but not enough to compensate for inflation. Many central banks now prefer to place their reserves in gold while the part of the dollar continues to decrease.
The workshop of the world, China, no longer wants dollar. This is why the strategy is now to reindustrialize in order to reduce the trade deficit. But to become a exporting nation requires a weak dollar, hence the interest of the American government for Bitcoin.
The explanation is very simple. Washington will not accept that the Yuan will replace the dollar on the international scene. If we have to lose the famous “exorbitant privilege”, let us bet that Americans will fall back on Bitcoin, a stateless, non -censurable currency and whose money supply is limited to 21 million units.
The former White House advisor, Bo Hines, still thinks that the United States will take action before the end of the year:
I am always very confident about the fact that the American government remains very favorable to the idea of acting quickly in order to accumulate bitcoins for its strategic reserve. I tell people to keep their eyes wide open. I'm sure the news is coming.
Bo hines
It is time for Europe to wake up and the debate is moving forward. This is the case in Brazil, Russia, the United Arab Emirates, Japan, South Korea, Taiwan, etc.
Do not miss our article about the latest Bitwise report which also expects Bitcoin to become a first choice reserve currency.
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