Donald Trump promises to support Bitcoin miners if he returns to the White House – DiarioBitcoin
By Hannah Perez
Trump continues to speak highly of cryptocurrencies and extend promises to industry participants as part of his 2024 presidential campaign. He believes Bitcoin mining could be a defense against a CBDC.
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- Trump wants all remaining Bitcoin to be “made in the USA.”
- He extended his promises to the cryptocurrency sector, this time focusing on Bitcoin miners
- Consider that Bitcoin mining could be the “last line of defense against” a CBDC
As the US presidential election approaches, Donald Trump continues to profess his support for Bitcoin and making promises to cryptocurrency industry participants.
Doubling down on his comments in recent weeks, the Republican Party candidate expressed his support for the mining industry Bitcoin after holding a meeting with several executives of US cryptocurrency mining companies, promising to protect the sector if he is re-elected to the White House position.
“We want all remaining Bitcoin to be made in the USA!!!“Trump said in a publication nocturnal on his social media platform account Social Truth.
The billionaire politician and businessman justified that mining Bitcoin He will help the country become a dominant energy nation and expressed his intention to promote that industry if he becomes president.
His comment possibly indicates his desire to see American companies do more copper mining. Bitcoin using local resources, which could potentially help the U.S. increase your participation in the hashrate of the network. The United States currently represents 38% of the global hashrate of Bitcoinaccording to The Chain Bulletin.
The closest competitors in terms of hashrate are China, with 21% and Canada with 6.5% of the hashrate total, with important mining access points also in El Salvador, Asia and Europe.
It also refers to the limited amount of bitcoins. The supply of Bitcoin It is capped at 21 million, and so far, more than 90% of the supply has been extracted.
Trump continues with his cryptocurrency promises
The convicted former president also suggested that mining Bitcoin could be the “last line of defense against” a central bank digital currency (CBDC), a form of digital fiat money.
Trump has already publicly opposed this development, promising that he will not allow the creation of a CBDC if he is re-elected president. He has argued that that type of system would violate the freedom of Americans, giving federal power the “absolute control” of citizens’ money.
The social media post came after Trump met with a group of miners from Bitcoin at his Mar-a-Lago residence in Florida, as noted by Matthew Shultz, CEO of CleanSpark, a reputed public crypto miner in the country. The executives of Riot Platforms and TeraWulf.
After having harshly criticized cryptocurrencies for years, Trump’s stance towards the new class of financial assets has taken a 180° turn in the context of the presidential elections, which will be held in November 2024.
In recent weeks, the Republican has made a point of showing a broadly favorable attitude toward digital currencies, making promises to boost the industry and end the Biden administration’s crackdown. Trump recently began accepting cryptocurrency donations to finance his election campaign and has claimed that he is building a “crypto army”.
In an even more direct message, he would also have called himself the “crypto president.”
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
WARNING: This is an informative article. DiarioBitcoin is a media outlet, it does not promote, endorse or recommend any particular investment. It is worth noting that investments in cryptoassets are not regulated in some countries. They may not be suitable for retail investors as the entire amount invested could be lost. Check the laws of your country before investing.
