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The Defiant 2025-04-29 18:35:11

US Commerce Secretary Lutnick Backs Bitcoin as Gold, Plans Mining Power Plants Under Trump Administration Amid Global Space Race

US Commerce Secretary Lutnick Backs Bitcoin as Gold, Plans Mining Power Plants Under Trump Administration Amid Global Space Race

U.S. Secretary of Commerce Howard Lutnick has articulated a clear pro-Bitcoin stance under the Trump administration, emphasizing that Bitcoin should be treated as a commodity similar to gold due to its fixed supply of 21 million coins. Lutnick highlighted that the previous Biden administration treated Bitcoin with skepticism, but the current administration views it as beneficial for freedom and the economy. The U.S. government plans to accelerate Bitcoin mining by allowing miners to build power plants and data centers near natural gas fields, aiming to reduce reliance on the public power grid and control energy costs. This initiative is expected to turbocharge Bitcoin mining growth in America. Additionally, President Trump's Executive Director Bo Hines described a global "space race" among countries to accumulate Bitcoin, signaling the U.S. commitment to becoming a leading Bitcoin superpower. The administration intends to support Bitcoin businesses and encourage miners to establish operations in the U.S., reinforcing the country's position as a hub for Bitcoin mining and digital asset accumulation. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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