AMERICA'S BITCOIN STRATEGIC RESERVE IS BITCOIN MINING
AMERICA'S BITCOIN STRATEGIC RESERVE (ABSR) envisions a future where Bitcoin becomes a cornerstone of the global financial system, serving as strong support or protection against the devaluation of fiat currencies*. ABSR believes that as Bitcoin continues to gain value and recognition, it will play an increasingly pivotal role in challenging the supremacy of the dollar.
*Fiat currencies are government-issued money that is not backed by a physical commodity like gold or silver. Their value comes from the trust and confidence that people have in the issuing government, making them legal tender for transactions.
What Is Bitcoin Mining?
Bitcoin is a Digital Currency* that uses a process called mining to secure its network and validate transactions. Bitcoin mining is a network-wide competition to generate a cryptographic solution that matches specific criteria. When a correct solution is reached, a reward in the form of bitcoin and fees for the work done is given to the miner(s) who reached the solution first. This reward process continues until all 21 Million Bitcoins are circulating. Once that number is reached, the mining process is expected to cease, and Bitcoin miners will be rewarded through fees paid for the work done.
*What Is a Digital Currency?
The term Digital Currency refers to a form of currency that is available only in digital or electronic form. This means that there is no physical form. As such, it cannot be handled, stored, or manipulated. Consumers and Businesses can use digital currencies to execute transactions and trades.