While the price of Bitcoin has been under significant pressure over the last week, the digital coin continues to garner optimistic predictions as we slowly approach the new year. This optimism stems from parallels being drawn to the US dollar’s status and longevity, or lack thereof.
RT’s Max Keiser has added to this conversation, noting that the US dollar’s status as the world’s reserve currency has been declining for years: “With or without Bitcoin, the dollar is toast.”
While Bitcoin’s current price drop has opened doors for skeptic attempts to invalidate crypto and its stability, digital assets continue to dominate the market as more people become acquainted with dip trends. This trend also applies to the US dollar; while there are talks of banning Bitcoin, Keiser reiterates that it wouldn’t do much to help the status of USD as it is (and has been) deteriorating even without Bitcoin in the picture.
How Individual Miners are Taking Things into Their Own Hands
Bitcoin adds the cherry to the top of this cake, cutting the dollar off from its life supply with mining enthusiasts ranging from individuals to major corporations and countries continuing to convert the energy available to them in order to equip their crypto mining efforts. With innovations in the Bitcoin landscape evolving every day, ways of utilizing available energy (and making energy available) are developing at brisk rates.
Designs around increasingly popular mobile Bitcoin mining containers are allowing miners to go to the energy source, instead of having to bring the energy source to them. Stranded energy sources, such as oil, gas, and congested renewables, that would otherwise go to waste can be optimized with a “plug and play” Bitcoin mining container model, giving miners more freedom and flexibility. The ability to seek out the cheapest energy sources anywhere in the world means you now have even more autonomy to manage your mining operations, and have more room for growth and profitability.
The US Bitcoin Roadmap for 2022
With such developments actively in place, it’s no wonder optimistic predictions for Bitcoin continue amidst the current dip. Expectations for the US government to embrace cryptocurrencies are among this optimism for 2022, with common sentiments advising the government to join the Bitcoin wave to back it up. However, even if government officials were to come over to the “orange side”, their failure to acknowledge the true downhill path of the US dollar will continue to hold them one step behind.
Bitcoin could allow the US to maintain its dominance as the world’s reserve currency, and with nearly 50% of the global hashrate share moving into the US, up from 42.7% in August 2021, it’s slowly setting itself up for precisely that. Mining companies in the US have been increasing their hosting capacities for years, putting infrastructure in place that would allow for such a transition and that has played a significant role in the recovery of the Bitcoin network following the ban in China earlier this year. Instead of the federal reserve, individual Bitcoin miners will claim the position of national money printers.
Following this complex trajectory, these predictions are coupled with the ongoing anticipation of Bitcoin’s $100,000 milestone. Whether it’s reached by the end of 2021, as continuously regurgitated thus far, or is welcomed as a New Year highlight, the sentiment stands that Bitcoin and the role of cryptocurrencies in daily life serve a purpose and are here to stay.
“The best course of action is to buy as much Bitcoin as you can, and this applies to individuals, corporations and countries, and grab some popcorn and a good seat to watch the world reserve currency collapse”, adds Keiser.
Keep Up with the Crypto Mining Momentum
While the US government doesn’t yet seem keen on acknowledging the opportunities presented by Bitcoin in their entirety, it doesn’t mean you should miss out. Whether you’re looking to buy your first miner, make the most of colocation services and availability, or are ready to engage your own Wattum Bitcoin Mining Container, our full-suite services model supports you every step of the way.
Wattum Bitcoin Mining Containers range from 10, 20, and 40-feet in size, and can host up to 360 ASIC units at a 3.5 kW capacity each. With over 60MW of this mobile mining solution already deployed, there’s no time like the present to boost your mining efficiency and take ownership of your operations. Get in touch with us today to learn more.