Many laughed when El Salvador started to mine bitcoin out of their country and use green style of energy from their lands to do so. This result in start up funds and of course some management funds but now fuels wealth into that country. In fact as of May 2024 it was reported that these systems had mined 474 bitcoin worth roughly 31.2 million dollars.
Now that might not sound like a ton but to a country with a low GDP it's pretty much doubled their GDP and wealth in that country.
I've always said bitcoin will explode in value when countries start to adopt it as a form of wealth in their coffers and that's actually what we are starting to see or attempt to happen.
USA Elections
It's rather clear the stance on crypto in this USA election. You have Biden and the democrats which are heavily regulating and trying to stop the growth of cryptocurrency in the USA. Don't you dare try and tell me otherwise you have to be mentally ill if you think otherwise. And Trump on the Republican side who has becoming increasingly pro crypto.
Trump is expect next week to do a crypto speech at the bitcoin conference in Nashville. This is actully a huge event with some big time speakers such as Robert F. Kennedy Jr., Cathie Wood, Michael Saylor and more!
Trump is so far expected to announce some of his plans for crypto if he's elected into power of which it's said he will be focusing on a "Strategic Bitcoin Reserve Policy" what that pretty much means is that the USA will start to stack sats. Yep, you read that right the USA government will start staking sats! Let that sink in for a moment.
It's very clear that the USA is starting to struggle under massive debt of which no one seems to be doing anything about and simply write it off as a joke. But it is no joke and the USA needs to start getting serious again as we have as a nation greatly fallen behind development and grow including wealth for various and many reasons.
Swapping Seats
When there's money involved you'll quickly see people shift focus and bitcoin has become a powerhouse as of late. From a worthless token to buy pizza on a forum to a world reserve currency bitcoin has become one of the most powerful assets in just 15 years and it's only just getting started.
I'd also have to say that when this happens it's most likely the last MAJOR bull run. Sure there will still be some bull runs but they will be small compared to the massive gains we see today.
It's also changing the perspective of other people. remember JPMorgan's Jamie Dimon? Well apparently he's officially pro crypto now and what's funny is we kind of already knew this since he was talking trash about it but constantly buying the asset like crazy. "Actions speak louder than words" I simply don't trust most words unless they are backed up with action and those actions always speak truth.
It's even been a possible note that he would be considered for the treasury position. Even the fed has said they should get more involved with bitcoin and crypto as a "staying power" in order to build up the coffers of the USA.
What's clearly happening right now and I don't think most every day people are realizing this at the moment is that crypto is being bought up in drove not only from "institution investors" but also companies and soon countries!
*This article is for entertainment purposes only and is not financial advice. Do your own research before investing and understand the risks.