Mara’s ‘Trump 47’ Block Shows Interest in Bitcoin President
Mining company MARA Holdings has included an AI portrait of Donald Trump on the Bitcoin blockchain, highlighting the industry's growing interest in America's first pro-crypto president.
The block called “Trump 47” was dug by MARA on January 17, Chairman and CEO Fred Thiel said on the X social media platform. The move was intended to “honor” President-elect Trump's support of Bitcoin (BTC), Thiel said.
An image of Trump AI is written on the Bitcoin blockchain. Source: Mempool.space
Trump's pro-mining stance came to light in June after a coalition of industry executives announced plans to make the U.S. the world's bitcoin mining capital. Since then, it has pledged to ensure that all remaining coins are “made in the USA.”
Riot Platform CEO Jason Les said at the time that he had “a very good conversation with President Trump on Bitcoin and American energy dominance.”
Riot Platforms CEO Jason Les met with Trump in June 2024. Source: JasonLess
Mining company Hive Digital recently cited Trump's presidential election win for its decision to move its headquarters from Vancouver, Canada to Texas, joining others including MARA, Riot Platforms and Bitdeer.
Trump has promised to make America a safer and more attractive place for Bitcoin miners by implementing policies that make the US the cheapest energy in the world, Hive said in a statement.
Related: US crypto execs outline hope for regulatory transparency by 2025
Gimmick or real hope?
Trump's campaign rhetoric has come a long way since he called Bitcoin a fraud against the dollar in 2021. However, if recent moves are any indication, the president-elect appears poised to follow through on many of his pro-Crito promises.
On December 4, Trump announced that he would nominate pro-crypto Paul Atkins as chairman of the Securities and Exchange Commission. That same week, the White House named former PayPal CEO David Sachs the title of “AI and crypto czar.”
As Cointelegraph reports, Trump may be lining up a pro-crypto replacement to lead the Commodity Futures Trading Commission (CFTC). Summer Mersinger, who currently serves as commissioner for the CFTC, is said to be under consideration for the role.
Perhaps the biggest elephant in the room is whether Trump will take decisive steps to enact the promised Bitcoin storage strategy. Senator Cynthia Lammis has already introduced the BITCOIN Act of 2024, which requires the Treasury to acquire 1 million BTC within five years.
Some industry players, like Strike CEO Jack Mallers, believe Trump could recognize Bitcoin as a reserve asset on day one of his term. Others, like Galaxy Digital CEO Mike Novogratz, believe it's a long shot.
Related: Crypto deregulation under Trump: Promise versus reality
