In a very friendly nod to Bitcoin, Cramer asked about the new administration’s plans for cryptocurrencies, and in his question, he drew a comparison to the US Strategic Petroleum Reserve. Would the White House push for something like that?
“Yes, I think so,” Trump replied. But the rest of his answer really showed his understanding of the importance of the cryptocurrency sector to the global economy in terms of fundamental principles.
That may be the influence of technology engineer and government efficiency consultant Elon Musk, who famously said, “I think it’s important to think from fundamental principles rather than analogical measurement.”
Trump tells Jim Cramer about cryptocurrencies
“We’re going to do something great with cryptocurrency,” Trump told Cramer.
“Because we don’t want China or anyone else — everyone else is embracing it and we want to be at the forefront. We want to be at the forefront of AI. We will be at the forefront of AI,” he added.
Then Trump said something that proves he is a believer in cryptocurrencies, not just a headline reader who does what Elon Musk or his son Barron say:
“We have to produce a tremendous amount of electricity. You know that,” he explained. “It’s incredible when you think that we need more than twice what we already have. But we’re going to be able to do it.”
Future History of the 21st Century
Solar panel prices have already fallen on a parole since the 1970s, much like Moore’s rule determines the price of computer chips. But electricity could become more abundant and cheap.
Bitcoin isn’t just new money on the internet. It’s also an industry with immediate incentives to develop cheap, abundant, renewable energy.
Every time the mining chip race to get the most efficient Bitcoin miners, the only place left for miners to compete is in electricity costs. They are already willing to compete with each other for profit against this expense line in their business model.
The potential of a smart grid measured by blockchain platforms that interact more clearly with fiat currencies is impressive.
Trump's Appointments Are Bullish for Cryptocurrencies
Ahead of his inauguration on January 20, Trump has already scored huge victories for the blockchain-based cryptocurrency sector.
His appointments as Treasury Secretary, SEC Chairman, and White House cryptocurrency “Zar” are very bullish signals for prices in cryptocurrency exchange markets.
They have strong ties to cryptocurrencies, and one of them (Trump’s pick for SEC chairman) is backing the industry, according to Mr. Trump.
US Treasury Secretary: Howard Lutnick
Chairman of the Securities and Exchange Commission: Paul Atkins
Cryptocurrency and AI Advisor: David Sachs
Article: Trump Understands: Bitcoin Is a Reward for Generating Abundant Electricity.
