In this video, I discuss the White House attack on Bitcoin mining in the form of the proposed DAME tax on the electricity used by Bitcoin miners.
Not only will this tax drive Bitcoin miners to countries with dirtier grids, it is an unfair attack on a completely legal and legitimate industry that provides jobs and tax revenues.
Usage of basic utilities like electricity, water, internet, etc should not be politicized. If a political party imposes special taxes on industries that they don't like, they should be ready for an opposing political party to do the same thing to them when they retake power.
Is this really how a government should interact with an economy? Does this provide a stable backdrop and rule of law that allows for businesses to make good long-term capital allocation decisions?
No, it doesn't.
Not investment advice! Consult a financial advisor.
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#Bitcoin #Bitcoinmining #Biden
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