US Secretary of Commerce Howard Lutnick made important statements about the Trump administration’s new approach to Bitcoin (BTC) and America’s Bitcoin strategy.
Recalling that the Biden administration had a distant attitude towards Bitcoin, Lutnick stated that this period is now over. “Bitcoin is like gold,” said Lutnick, adding that the Trump administration had a warm approach to Bitcoin.
Describing Trump’s first 100 days as president as “crazy but productive,” Lutnick said it was “extraordinary” to work with a president who makes news and appears before the press every day. Lutnick also noted that President Trump’s promises regarding Bitcoin were quickly put into practice. Notably, he explained that the “Bitcoin Strategic Reserve” promised by Trump during his election campaign was quickly established thanks to himself and David Sacks, the Commerce Department and other Bitcoin supporters within the government.
Lutnick, who stated that his personal relationship with Bitcoin goes back many years, said that he started doing research on Bitcoin in 2017 and made a large investment in Bitcoin both individually and institutionally in 2020. Lutnick stated that Bitcoin offers a unique store of value due to its limited supply and decentralized structure, and said, “Even today, we are in the early stages of Bitcoin.”
On the other hand, Lutnick, who also touched on the “Investment Accelerator” program recently launched by the Ministry of Commerce, said that they directly support investments exceeding $1 billion. Explaining that they have taken important steps to encourage Bitcoin mining, Lutnick stated that mining facilities will be allowed to establish their own power plants. Lutnick noted that miners will thus be able to produce Bitcoin at lower costs and sustainably using their own energy resources without being dependent on traditional energy networks.
Stating that they will encourage the use of environmentally friendly and renewable energy sources, especially hydroelectricity and flare gas, Lutnick said, “There will be a big boom in Bitcoin mining in America.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/u-s-secretary-of-commerce-howard-lutnick-makes-special-bitcoin-btc-remarks-discusses-the-future-of-btc/