Samson Mow, the CEO of Jan3 and a prominent Bitcoin advocate, has outlined six transformative ideas for former United States President Donald Trump to consider before his speech at the Bitcoin 2024 conference in Nashville, Tennessee, on Jan. 27.
Mow’s proposals posted on X suggest integrating Bitcoin (BTC) into the fabric of the US economy and positioning it as a cornerstone of the national financial strategy. Mow’s first idea — the conversion of US debt to satoshis — suggests an innovative approach to handling the national debt.
Stabilize national debt
By pegging $1 to 1 satoshi (the smallest unit of Bitcoin), this concept aims to leverage Bitcoin’s decentralized nature and scarcity to stabilize and potentially reduce the burgeoning national debt.
The executive’s second proposal to establish a Lunar Bitcoin mining facility envisions a futuristic approach to Bitcoin BTC mining. Mow’s idea capitalizes on the moon’s abundant natural resources and minimal gravity, which could reduce operational costs and increase efficiency in mining operations.
This ambitious project could place the US at the forefront of space-based cryptocurrency mining, setting a precedent for innovation in the space industry.
Mow’s third proposal aligns with the libertarian ethos often associated with Bitcoin. The executive suggests abolishing the Federal Reserve. By dismantling the central banking system, the US could shift toward a more decentralized financial structure, where Bitcoin could play a central role.
Inflation reparations with Bitcoin
In his fourth idea involving inflation reparations, Mow proposes compensating citizens for the loss of purchasing power caused by inflation. By using Bitcoin, which is often touted as a hedge against inflation due to its limited supply, the government could provide a more stable and reliable form of compensation.
Related: Bitcoin rebounds to $67K ahead of Trump’s speech in Nashville
Mow also proposes making Bitcoin untaxable. By removing taxes on Bitcoin transactions and holdings, the government could encourage widespread adoption and integration of Bitcoin into the mainstream economy.
Lastly, Mow suggests creating a strategic Bitcoin reserve. This is similar to the promise made by independent presidential candidate Robert F. Kennedy Jr. to sign an order requiring the US Justice Department and US Marshalls to transfer the 204,000 Bitcoin held by the US to the Federal Reserve to be held as a “strategic asset.”
Trump is expected to speak at the Bitcoin conference on July 27.