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Donald Trump, the sexual predator and current sitting president of the United States, has fully embraced bitcoin. World Liberty Financial, a cryptocurrency project he profits from, has purchased millions of dollars worth of tokenized bitcoin, and the federal government at his direction has placed bitcoin into a special stockpile and is searching for ways to purchase additional bitcoin. This embrace of bitcoin comes after the cryptocurrency industry embraced him, with a wide variety of industry executives, including Cameron Winklevoss, Tyler Winklevoss, Brian Armstrong, Marc Andreessen, Michael Saylor, and many more, voicing their support for the authoritarian.  However, despite the industry’s support of Trump and Trump’s support of the industry, bitcoin has seemed to underperform. Read more: Trump confused by Strategic Bitcoin Reserve he just ordered Under Trump’s term so far, bitcoin has fallen over 13% from approximately $101k to approxima...

In March, President Joe Biden released his annual budget proposal outlining his policy priorities for the coming year. With respect to the digital asset industry, the proposal touched upon crypto mining . Specifically, Biden called for a 30% tax  on all electricity used to mine Bitcoin and other crypto s. However, according to Marathon Digital’s CEO Fred Thiel, Biden’s tax plan won’t work. In an interview during the Bitcoin Miami Conference, the Marathon executive hinted that the administration is looking to target the Bitcoin ecosystem. Chalking out the potential consequences, he said, “Bitcoin miners will just leave the U.S., which is really what they’re trying to… While I’m not gonna go so far as to say that they want to kill Bitcoin, they want to make it very difficult for people to operate.” In fact, Thiel went on to further hint that Marathon already intends to grow outside of the U.S. Here, it is worth recalling that the SEC has issued another subpoena against th...