Trump Stresses the Need for All Bitcoin to be Produced in the USA, Highlighting Its Role in Energy Dominance
- PHPzOriginal
- 2024-06-14 09:37:49767browse
On Wednesday, following a meeting that he hosted with numerous CEOs from cryptocurrency mining companies in the United States, Donald Trump reaffirmed his support for the Bitcoin mining business.
Former President Donald Trump met with leaders from several cryptocurrency mining companies in the United States on Wednesday, highlighting the importance of Bitcoin mining in the country's energy strategy.
In a post on Truth Social on June 11, Trump called for “all of the remaining Bitcoin to be MADE IN THE USA!!! [sic]” and said that it would help the nation become “energy dominant.”
He added in the statement that Bitcoin was the country's "last line of defense" against a digital currency from the central bank. In March, Federal Reserve Chair Jerome Powell said that the United States was "nowhere near recommending or let alone adopting a central bank digital currency in any form."
Mining industry leaders were invited to Mar-a-Lago by Trump, according to posts on X. Riot Platforms CEO Jason Les and the company's public policy general manager Brian Morgenstern, CleanSpark executive chairman Matthew Schultz, and TeraWulf board member Amanda Fabiano were among those present.
Fabiano wrote in a post that the group spoke with Trump about how mining Bitcoin could "strengthen the electrical grid and provide opportunities for job creation."
According to Schultz, who works for CleanSpark, Trump promised to support the industry if he were to be reelected in November.
The sector faces increasing political scrutiny over its emissions, energy use, and potential impact on power grids, Cointelegraph adds. Bitcoin miners in the United States would be subject to a 30 percent electricity tax under a proposal from President Joe Biden.
During his presidency in 2021, Trump once called Bitcoin "a scam." However, in the lead-up to the 2024 presidential election on November 5, Trump has shifted his tune in an effort to court the industry's cash-rich lobbying groups.
He recently stated in a post that the United States should not settle for "second place" in cryptocurrency and earlier in June even declared himself the "crypto president."
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News source：https://www.kdj.com/cryptocurrencies-news/articles/trump-stresses-bitcoin-produced-usa-highlighting-role-energy-dominance.html
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