Time for some boot licking.
The Blockspace team was on-site at the Trump speech in Nashville, basking in the glory of the largest political candidate bowing to the orange coin movement.
Described by Nic Carter as the biggest political speech in Bitcoin’s history–hard to argue against especially if Trump wins in November–Trump made several large promises to the Bitcoin community, including firing Gary Gensler and creating a strategic Bitcoin Reserve from the United State’s stash of +200K Bitcoin.
For the mining community, and other energy intensive industries like manufacturing, HPC or metal works, there was a lot in this speech to be bullish on. Below we pulled three quotes worth reading.
Reducing regulation and increasing domestic energy production
“We’ll be releasing people from certain ridiculous requirements. And we’ll be using fossil fuel to make electricity because we’re going to have to. We’ll be using nuclear. We’ll be doing it in an environmentally friendly way. But we will be creating so much electricity, that you’ll be saying, “Please, please, President, we don’t want any more electricity. We can’t stand it.” You’ll be begging me. “No more electricity, sir. We have enough, we have enough.””
Bitcoin to be mined, minted and made in the USA
“If crypto is going to define the future, I want it to be mined, minted, and made in the USA. It’s going to be…it’s not going to be made anywhere else. And if Bitcoin is going to the moon, as we say…it’s gone to the moon. I want America to be the nation that leads the way. And that’s what’s going to happen. You’re going to be very happy with me.”
America to have the lowest cost of energy globally
“But we will end the war on American energy. And we will very simply drill, baby, drill. We’re gonna drill, baby, drill. We have to. It’s what we have. We have more liquid gold under our feet than any nation in the world. More than Saudi Arabia, more than Russia. We don’t use it. We don’t use it. They use it. We don’t use it. We go out and buy oil from Venezuela. It’s amazing. But we won’t stop there. We will harness American energy in all forms.
I have set the ambitious goal that by the end of my term, the United States will be the number one lowest cost of energy and electricity of any nation on Earth. We can make it so inexpensively. Because of what we have under our feet, we can make it so inexpensively. And with low energy costs, America will become the world’s undisputed Bitcoin mining powerhouse. You’ll be a Bitcoin mining powerhouse. You will not have to move your family to China. You will not be moving to China.”
While it’s probably not good for more Bitcoin hashrate to end up in the US, Bitcoin miners wouldn’t mind cheaper energy. And with the forecasted demand from the burgeoning data center industry, it’ll certainly have somewhere to go.
