US Secretary of Commerce Howard Lutnick has announced new initiatives aimed at accelerating Bitcoin mining in the country, including support for building its own power infrastructure.
Support for Bitcoin Mining in the US
Howard Lutnick stated that the US government will allow miners to build power plants and data centers near natural gas fields to accelerate Bitcoin mining. He noted that this move could significantly reduce reliance on the public power grid. Lutnick remarked, "We are going to turbocharge Bitcoin mining in America."
Bitcoin as a Commodity
Lutnick expressed the view that Bitcoin should be treated as a commodity, similar to oil or gold. He proposed that the Bureau of Economic Affairs incorporate Bitcoin into its calculations the same way gold is currently used in national economic accounts.
Future of the Bitcoin Industry in the US
The Commerce Secretary emphasized that the Trump administration is committed to supporting the Bitcoin industry through initiatives like the Investment Accelerator, which facilitates investments and new projects. Lutnick highlighted that the current administration is focused on creating a favorable environment for innovative companies, in stark contrast to the approach taken previously.
The US government's initiatives to support Bitcoin mining and recognize Bitcoin as a commodity present new opportunities for growth in the cryptocurrency industry within the country.
