The Biden administration's proposal to impose a 30% tax on electricity for cryptocurrency mining is an act of market suppression.

Pierre Rochard, Vice President of Research at Riot Platforms, stated that the proposal by President Biden to impose a 30% tax on cryptocurrency mining electricity is an attempt to secretly suppress the thriving cryptocurrency market. There is a hidden agenda behind the taxation, which is an attempt to stifle Bitcoin's growth and pave the way for CBDCs. Even miners using renewable energy sources would not be exempt from this proposed tax, raising concerns about its fairness and underlying motives.