Donald Trump: All Bitcoins Should Be Mined in the USA
Trump’s Support for Crypto Miners
Former US President Donald Trump has recently increased his support for cryptocurrencies, particularly Bitcoin mining. On Wednesday, he held a meeting with several executives from US crypto mining companies and reiterated his support for Bitcoin miners. In a post on Truth Social on June 11, Trump stated that he wants “all remaining Bitcoins to be mined in the USA.”
The Importance of Bitcoin and Trump’s Stance
Trump claims that Bitcoin is the country’s “last line of defense” against a central bank digital currency (CBDC). With this rhetoric, he emphasizes that Bitcoin plays a critical role in financial independence and security. On the other hand, US Federal Reserve Chairman Jerome Powell had previously announced that the US was not considering adopting a CBDC.
Trump’s Meeting with Mining Companies
Trump’s meeting with prominent Bitcoin miners such as Riot Platforms CEO Jason Les, CleanSpark Executive Chairman Matthew Schultz, and TeraWulf Board Member Amanda Fabiano drew attention. The meeting discussed topics such as how Bitcoin mining can strengthen the power grid and encourage job creation.
Biden and Trump’s Different Stances
President Joe Biden had previously proposed a 30% electricity tax on Bitcoin miners in the country. However, Trump has recently changed his stance on cryptocurrencies. While serving as President in 2021, he had said that Bitcoin “seemed like a scam,” but now he is increasing his support for cryptocurrencies.
Trump’s Crypto Campaign
Trump plans to use his support for cryptocurrencies as a campaign strategy for the November 2024 presidential election. He has even declared himself the “crypto president” and started accepting crypto donations to fund his presidential campaign.
Donald Trump’s support for cryptocurrencies could have significant implications for the future of the crypto industry in the US. Increasing support from Trump for Bitcoin and other cryptocurrencies could lead to wider acceptance in this field and attract more investors.
