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This week, Belarus’ President Alexander Lukashenko told the country’s Energy Minister Alexei Kushnarenko that he wants to use their surplus of electricity to mine cryptocurrency like Bitcoin to accumulate a reserve.
“Look at this mining. More and more people are turning to me. If it is profitable for us, let’s do it,” President Lukashenko said. “We have excess electricity. Let them make this cryptocurrency and so on.”
President Lukashenko touched on how the United States is embracing the mining industry under President Donald Trump, and also creating a strategic reserve of Bitcoin and other cryptocurrencies: “Moreover, you see the path the world is going. And especially the largest economy in the world. They announced yesterday that they will keep [Bitcoin & cryptocurrency] in reserve.”
“Therefore, there will be demand for them. Well, maybe we should do it ourselves,” Lukashenko continued. “Well, we attract some investors, sell them electricity, although I do not rule it out. But we need to do it ourselves. There are such proposals. I think that you will step over this bureaucracy and report what needs to be done.”
Last summer, President Trump hosted American-based Bitcoin miners at his Mar-a-Lago residence to learn and get a better understanding of the industry to best serve them under what would be his upcoming presidency. Since then, President Trump has repeatedly backed the Bitcoin mining industry and championed Bitcoin in many other ways, catching the attention of other world leaders like Lukashenko. Other nation’s leaders are taking notice.
Since President Trump proposed the idea of creating a strategic reserve of Bitcoin at The Bitcoin Conference in Nashville last summer, government officials around the world have begun proposing legislation for their own country to adopt it as well, and have discussed the potential feasibility of adopting one. Now, it is officially happening, after Trump announced on his Truth Social channel that there will be a U.S. strategic reserve of BTC.
U.S. Commerce Secretary Howard Lutnick stated today that he thinks President Trump is going to move forward with these plans at the White House’s Digital Assets Summit this Friday. As President Trump and the United States continue to embrace Bitcoin, other nations paying attention like Belarus are following suit as nation state adoption accelerates.
