27 Nov
27Nov

Crypto Miner Calls for Aggressive US Bitcoin Strategy

Crypto mining company MARA Holdings has issued a call to action for the United States, urging the government to adopt a more aggressive stance on Bitcoin and Bitcoin mining. The company argues that securing a dominant position in Bitcoin is crucial for national security.

The Case for Bitcoin as a Strategic Asset

MARA contends that Bitcoin should be viewed as a strategic asset, similar to gold. The company highlights the increasing trend of de-dollarization, where countries are reducing their reliance on the US dollar. By holding significant Bitcoin reserves, the US could potentially mitigate the risks associated with a decline in the dollar's global dominance.

Addressing the Mining Hardware Challenge

One of the key challenges for the US is its dependence on foreign suppliers of mining hardware, primarily from China. MARA recommends incentivizing domestic production of ASIC chips to reduce reliance on foreign manufacturers and strengthen the US's position in the mining industry.

A Six-Point Plan for Bitcoin Dominance

To achieve its goal of securing a dominant position in Bitcoin, MARA has proposed a six-point plan:

  1. Encourage Domestic Mining Hardware Production: Promote the development of US-based ASIC chip manufacturing.
  2. Invest in US Bitcoin Mining: Provide incentives to support the growth of the US mining industry.
  3. Establish a Bitcoin Strategic Reserve: Create a national Bitcoin reserve to safeguard the country's economic interests.
  4. Provide Regulatory Clarity and Incentives: Implement clear regulations and tax incentives to encourage Bitcoin mining and investment.
  5. Set Global Standards for Decentralized Networks: Lead the development of international standards for blockchain technology.
  6. Secure a Dominant Share of Hashrate: Prioritize securing a significant portion of the global Bitcoin hashrate to maintain control over the network.

By taking these steps, the US could position itself as a global leader in Bitcoin and blockchain technology, strengthening its economic and geopolitical influence.

November 2024, Cryptoniteuae

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