Russia is now Mining Bitcoin, will China reverse their Ban on Bitcoin Mining? ₿🪙⛏️

Bitcoin was the best-performing asset class across US markets in 2024, and since inception has increased in value over a thousand times. Now global central banks, sovereign governments, and even key members of the US Congress and Federal Reserve are racing to build a "strategic reserve" of Bitcoin.

One of Bitcoin's most attractive features to investors is that its total supply is capped, at 21 million BTC. Over time, Bitcoin become increasingly more difficult to "mine", requiring ever-higher volumes of electricity and computing power. For the countries that can mine the remaining BTC faster and more efficiently, the advantages are obvious, and enormous.

Bitcoin is banned in Mainland China. Ironically, however, China has a near-total monopoly on the mining rigs that mine the Bitcoin. Almost all the hardware is built here and exported, and 98% of the advanced semiconductor chips used in mining rigs are Chinese.

China, then, finds itself in a strange position: though the country forbids Bitcoin mining and trade in-country, it can exert great influence in determining where the ever-diminishing supply of new Bitcoins will be created, and by whom.

Original Video by Inside China Business: https://www.youtube.com/watch?v=kkmB9fC5SZk

🦁 www.MAGAlionHAT.com 🦁
-------------------------------------------------------------------------------------------------------
Enjoy the content I provide? Please help support this renegade channel with PayPal! 💰
PayPal: [email protected]

Or, if you like you can Buy Me A Coffee: https://www.buymeacoffee.com/MAGAlionHAT

Crypto wallet addresses below. If you have a type of Crypto you wish to donate that I don't have a wallet for, email me and I will create one! 🤑

It keeps me afloat while I'm working to produce informative and entertaining videos while finding and providing gems from other creators for you to enjoy! 🤗
Any donation would be GREATLY appreciated! Thank you and God Bless! 🙏

₿itcoin (BTC):
bc1q63xshh2c2u4tvc6jksl5crlhtp554qu0l4nn8j

₿itcoin Cash (BCH):
qqms8t79e6rk5z5djad360d38y9kkqnh7yfpxkkuy5

₿itcoin SV (BSV):
1F6oH8qkMjswViJSwq965gRivE3DqKuJKC

Litecoin (LTC):
LgxrUdjUxnmFGLtsAbh76C3aAm3dXAGDFV

Dogecoin (DOGE):
DGn5bkC9WM1E2oM79HWiYoVxE3rHuEGkoS

Ethereum Classic (ETC):
0xC03AEe5333D50a20810e1A7585D9BB3f77E0B773

Ethereum (ETH):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Shiba Inu (SHIB):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Chainlink (LINK):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Polygon (MATIC):
0x27d5493Ac22D56B68cF36F5f77594BDC8e6FAc5E

Ripple (XRP):
rwvGofsMZQMyqro9YPe7swpo6C6Kagpg2e

VeChain (VET):
0x6410f2e05fEF8169bd1A6935884B9D4D56D9017b