Why this CEO thinks the US government is already mining Bitcoin – Bitcoin – US Dollar ($ BTC)

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Whit Gibbs, CEO of Compass Mining, the U.S. Bitcoin mining market (CRYPTO: BTC), believes the U.S. government may already be mining Bitcoin.

What Happened: In a December 1 episode of Anthony Pompliano’s Best Business Show, Gibbs explained how nations around the world strategically began to embrace Bitcoin.

When asked what it would take for the United States to start mining Bitcoin, Gibbs said, “The United States is already mining. May be.”

“I know they could have 10 or 20 megawatts running somewhere in the Midwest, to maybe test it,” he said.

“This is hypothetically speaking, but it’s a matter of national security, isn’t it, when it comes to Bitcoin mining,” added the CEO of Compass Mining.

In his opinion, Bitcoin is the future financial instrument that will eventually be supplemented by a number of things.

“Nations should be absolutely foolish not to be exposed to the underlying infrastructure that supports them. [Bitcoin]. The United States, I think, is at the forefront, ”Gibbs said.

“We had a lot of conversations with the government in Washington DC [and] state governments to help educate them, but they’re very forward-thinking when it comes to supporting that. “

Several publicly traded Bitcoin mining companies have generated lucrative profits over the past year as the price of the digital asset has reached new highs. Last month, Fred Thiel, CEO of Marathon Digital Holdings Inc (NASDAQ: MARA), estimated that the price of Bitcoin would have to drop 80% for the company to stop making money from its mining operations. crypto.

BTC Price Action: As of the Monday afternoon post, Bitcoin was trading at $ 49,206.57, up 0.42% in the past 24 hours.

Photo by Ewan Kennedy on Unsplash

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