Trump Wants Bitcoin ‘Made in the USA’ After Addressing Mining Industry Leaders
Donald Trump reiterated his support for the Bitcoin mining industry on Wednesday after a meeting with several executives from US crypto mining companies.
On June 11, at the Trump-owned Truth Social event, the presidential candidate said he wanted “the rest of Bitcoin to be done in America.” [sic]” and said it would help the country become “power dominant”.
He said Bitcoin (BTC) is the country's “last line of defense” along with the central bank's digital currency. Federal Reserve Chairman Jerome Powell said in March that the United States “is nowhere near recommending or advocating the adoption of a central bank digital currency in any form.”
This comes after Trump previously hosted bitcoin miners at his Mar-a-Lago, Florida home, including Riot Platforms CEO Jason Les and the firm's public policy chief Brian Morgenstern, CleanSpark executive chairman Matthew Schultz and Terawolf board member Amanda Fabiano. According to the posts on X. .
Fabiano stated that the group had discussed with Trump
CleanSpark's Schultz told Bloomberg that Trump has pledged to support the sector if elected president in November.
“Our industry faces an enormous amount of political struggle, fueled by misinformation and distorted narratives,” Terawolf's Fabiano told X. Our industry needs politicians who are interested in learning about Bitcoin and the benefits of Bitcoin mining.
President Joe Biden has proposed a 30% electricity tax on bitcoin miners in the country, and the sector is facing political pressure over emissions, energy consumption and the potential impact on power grids.
Trump previously said Bitcoin “looked like a scam” when he was president in 2021, but he recently changed tack in an attempt to take the industry's money-grubbing lobby groups to court in the lead-up to the Nov. 5 2024 presidential election.
Recently, the United States will not settle for “second place” when it comes to crypto and declared itself as “crypto president” in early June.
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The billionaire began accepting crypto to fund his presidential campaign in May, and hosted a dinner for those holding Mugshot-fungible tokens.
Trump held his first parole hearing on June 10 after pleading guilty on May 30 to 34 felony counts of falsifying business records.
Trump took the virtual interview from his Mar-a-Lago resort, which was “unsuccessful” and lasted less than 30 minutes, The Hill reported, citing unnamed sources.
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