The crypto market is currently experiencing an exciting development that would have surprised even Bitcoin‘s inventor, Satoshi Nakamoto. Countries around the world, including heavyweights like the US and Russia, have entered a race for the remaining Bitcoins. This dynamic could have lasting effects on the market.
While the Bitcoin chart currently shows little movement, the crypto market is bubbling behind the scenes. Countries like the US and Russia have begun investing heavily in Bitcoin mining. This development could have a lasting impact on the market and lead to a shortage of supply, as many of these countries hoard mined Bitcoins instead of selling them on the market.
Bitcoin was originally conceived as an alternative to state-issued fiat money. The fact that countries themselves are now entering the race for the remaining Bitcoins is a remarkable turn of events. Eric Trump, son of former US President Donald Trump, sees this development as a major opportunity for the US, which could prevail in the race for the remaining Bitcoins.
The Bitcoin mining process is complex and energy-intensive. With only 1.2 million Bitcoins left to be mined, the race for these digital coins is becoming increasingly intense. Eric Trump suspects that this race is one of the reasons why he and his brother, Donald Jr., entered the mining business themselves.
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