Last week, the White House is currently hosting a highly-prominent crypto summit featuring leading industry leaders, but there are no Bitcoin miners in its invitation list.
There were Exchange CEO, project leader and notable people like Bitcoin Magazine’s Michael Saylor and David Bailey. However, Bitcoin mining executives have been excluded. This is a move that Frank Holmes, executive chairman of Hive Digital Technologies, believes it is a serious surveillance.
“During this interview I realized that I’m not actually a Bitcoin Miner. Actually. We have Exchange CEO, Project Leader at Bitcoin Magazine, Michael Saylor, David Bailey, basically all the exchange CEOs. Obviously, like I said, there are no miners.”
Holmes criticized the decision, arguing that Bitcoin mining plays an important role in the ecosystem and should not be ignored.
“Yeah, I think that’s their mistake,” Holmes said. “But this is part of the journey. Trump says he wants it in America, not in other countries, and not in the US. And I think that’s a really important part.”
Holmes focuses on the broader economic and environmental benefits of Bitcoin mining, which does not simply secure a network.
“Cryptomining was able to show what we’re doing. This is by recycling electricity in cold weather and heating buildings five times larger from the same electrical molecules. And there were so many unique things about what Bitcoin mining can do other than mining Bitcoin,” he explained.
He also emphasized the importance of miners in balancing the grid, especially when chain-covered electricity is wasted.
“Balance, grids are very important when bound electricity is not wasted anywhere. Suddenly, Bitcoin mining creates economic activity,” Holmes added.
Despite the disappointment at the summit’s elimination of miners, Holmes remains optimistic about Bitcoin’s trajectory.
“I was reading the expectations that Bitcoin was down because people had all these incredible expectations. It’s a journey. It’s a step. America is embracing this technology now. It’s very important both globally and domestically,” he said.
Holmes predicted that momentum would continue beyond US states and small countries like El Salvador and Bhutan.
“We’re going to coordinate all the states and win countries other than Bhutan and El Salvador. We’re going to say to some major countries, what do you know? We have to accept Bitcoin,” he added.