Bitcoin is a reward in the production of electricity in abundance

In a very cool take on Bitcoin, Cramer asked about the new administration’s plans for crypto, and in his question drew a comparison to the US strategic oil reserve. Will the White House push for something like this?

“Yes, I think so,” Trump replied. But the rest of his response really demonstrated an understanding of the importance of the cryptocurrency sector to the global economy in terms of first principles.

This may be the influence of technology engineer and government efficiency advisor Elon Musk, famous for saying, “I think it’s important to reason from first principles rather than by analogy.”

Trump tells Jim Cramer about Crypto

“We’re going to do something great with crypto,” Trump told Kramer.

“Because we don’t want China or anybody else; others are embracing it and we want to be the boss. We want to be the boss of AI. We’re going ahead of AI,” he added.

Then Trump said something that shows he’s a crypto fundamentalist, not just a headline reader who does what Elon Musk or his son Barron tells him:

“And we have to produce an enormous amount of electricity. And you know that,” he explained. “It’s incredible when you think we need more than double what we already have. But we can do it.”

The future history of the 21st century

Solar panel prices have already fallen on a parabolic trajectory since the 1970s, following how Moore’s Law dictates the prices of computer microchips. But electricity could become even more abundant and cheap.

Bitcoin is not just new money for the Internet. It is also an industry with immediate incentives to develop cheap, abundant and renewable energy production.

Whenever the chip race for the most efficient Bitcoin miners reaches the state of the art, the only place left for miners to compete is on electricity costs. They are already competing with each other for profit against this line of expenses in their business model.

The possibilities of a smart electricity grid measured by blockchain platforms that are more articulated exchangeable with monetary coins are bright.

Trump names bullish for Crypto

Ahead of his inauguration on January 20, Trump has already scored huge victories for the blockchain cryptocurrency industry.

His nominations as Secretary of the Treasury, Chairman of the SEC and White House Crypto “Czar” are very bullish signals for prices in crypto exchange markets.

Two have strong ties to cryptocurrency, and one (Trump’s choice to chair the SEC) is industry-friendly, according to Trump.

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