As reported by Bitcoin Magazine, China’s recent crackdown on Bitcoin mining forced miners to relocate their operations to other geographic locations in an attempt to circumvent the ban. The United States, with a “greener” sustainable infrastructure, could be an ideal location for them.
Republican-elected US Senator from Wyoming – Cynthia Lummis recently touted Bitcoin miners on the stream tweets Latest.
“If you are involved in Bitcoin mining, please contact us. We want you to come to Wyoming. “
Cynthia Lummis – US Senator
When messages from Chinese miners received shutdown orders, the Bitcoin hashrate collapsed. Mining pools based outside of China have been hit hard, causing hash rates to drop by at least 20%.
Lummis is also a prominent Bitcoin proponent. Last week the Senator urged people to buy Bitcoin and HODL for retirement plans. Accordingly, she affirmed her belief in Bitcoin as an investment vehicle and store of value.
According to the Commercial economics, The inflation rate in the United States is now at an all time high. This is the main reason many people see Bitcoin as a hedge against inflation.
Source: Trading Economics, US Bureau of Labor Statistics
In a series tweets, Lummis expressed support for BTC.
“I believe the US dollar should and will remain the world’s reserve currency. But spending money like trash is not the way to serve the American people or to protect the value of the dollar. “
She added:
“Ultimately, we get to this point: don’t rely on the rich to join Wall Street to save capital. Don’t let the government devalue your “store of value”.
When comparing the average annual return on Bitcoin, also known as CAGR, to fiat (USD) over 10 years, the returns on Bitcoin have taken the lead when compared to other assets.
Source: ChartsBTC
Minh Anh
According to AMBCrypto
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Variant Fund CLO Jake Chervinsky emphasized the potential impact of a spot ETH ETF approval,…
Ethereum co-founder Vitalik Buterin emphasized the urgent need for an open and decentralized protocol to…
The SEC may approve a spot Ethereum ETF soon, balancing the SEC's Ethereum classification that…
The GALA Ethereum contract was exploited, leading to the unauthorized minting and sale of 5…
Explore the top Base Meme Coins to invest in, including popular and promising tokens like…
The SEC accelerates 19b-4 filings review, sparking hope for Spot Ethereum ETF approval. However, approval…
This website uses cookies.