Below is a direct excerpt from Marty’s Bent Issue # 1084: “Who’s going to take advantage of the opportunity?” Sign up here for the newsletter.
The world is being given a huge opportunity through China because they seem adamant about banning bitcoin activity within their borders. As the Blake Masters noted, if the U.S. government had thought ahead, they would have taken the exact opposite approach and welcomed Bitcoin with open arms, held some reserves, and encouraged U.S. citizens to build businesses and create services that would increase Bitcoin’s usefulness.
While I’m not holding my breath and expecting the U.S. government to do anything about it, I’m very excited about using the opportunity without waiting for permission from private Americans. In fact, I can confirm that this is already happening in the mining industry where entrepreneurs are moving fast when it comes to buying energy industry while setting up more hashtags on American soil.
Regardless of whether the federal government gets bitcoin exposure, the number of American citizens and businesses who hold bitcoin on their balance sheets will only increase from here. I would also not be surprised when individual states announce that they are depositing and holding bitcoin in their coffers. It would actually be much more desirable to get exposure to the federal government. We want to encourage the states while minimizing the influence of the federal government on the country.
Holding and winning Bitcoin has never been less risky. The most powerful bitcoin FUD this year, which has been revolving around the concentration of hashtags and ASIC production in China for more than a decade, has been completely disarmed by the Chinese Communist Party’s decision to disable them. Mining activities in June and the expulsion of ASIC manufacturers early today.
The opportunity is vast, Americans are trying to take advantage of it, and the only thing that can stop this industry in the United States right now is a larger federal government that is eager for its citizens to succeed. Hopefully we can build and ship as soon as possible so that when that time comes it will be too late. Forward!