Chinese Bitcoin ‘Ban’ Creates Huge Opportunity for US
The following is a direct excerpt from Marty’s Bent issue 1084: “Who is going to seize the opportunity? »Subscribe to the newsletter here.
The world is presented with a huge opportunity through China as they appear adamant about effectively banning Bitcoin activity within their borders. As Blake Masters points out, if the U.S. government were forward thinking, it would take the exact opposite approach and welcome Bitcoin with open arms, keep some of it on reserve, and encourage U.S. citizens to start businesses and create services that increase the utility of Bitcoin.
While I don’t hold my breath and expect the US government to do anything, I am very optimistic that the Americans will seize the opportunity without waiting for permission. In fact, I can confirm this is already happening in the mining industry where contractors are moving at a rapid pace to deploy more hashrate on US soil while gaining the energy industry buy-in.
Whether or not the federal government is exposed to bitcoin, the number of US citizens and businesses holding bitcoin on their balance sheets will only increase from here. I also won’t be surprised when individual states announce that they are accumulating and holding bitcoin in their treasury. It would actually be much better for the federal government to be exposed. We want to embolden the states while reducing the influence of the federal government on the country.
It has never been less risky to own and defend bitcoin. During this year some of the most powerful Bitcoin FUDs, which for most of a decade revolved around the concentration of hashrate and ASIC manufacturing in China, were completely disarmed by the Communist Party of China then. that they decided to expel them. mining operations in June and kick the ASIC makers out earlier today.
The opportunity is huge, Americans are trying to take advantage of it, and the only thing that can stop the industry in the United States right now is a comprehensive federal government that is jealous of the success of its citizens. Hopefully we can build and ship as quickly as possible so that when the time is right, it’s too late. Forward!