Bitcoin and crypto prices have surged, thrusting Bitcoin into the limelight, propelling smaller cryptocurrencies like Ethereum, XRP, and Solana higher. However, U.S. President Joe Biden's proposed 30% tax on Bitcoin and crypto miners' electricity costs could wipe out billions of dollars of investor value. The controversial proposal has sparked fear of the mining industry's destruction and potential impact on future tax revenue. The surge continues, but the implications of Biden's tax proposal loom large over the crypto market.