July 17, 2024
1 Solar System Way, Planet Earth, USA
Crypto

Donald Trump vows to defend Bitcoin mining in DC

Today, Donald Trump met with Bitcoin Magazine CEO David Bailey and several prominent American Bitcoin miners. At the meeting, Trump pledged to defend Bitcoin mining both in Washington DC and on the world stage.

Attendees included representatives from major Bitcoin mining companies, including clean spark, Riot Platforms, Marathon Digital and other notable industry players. Key figures present included S Matthew Schultz of CleanSpark, Jason Les and Brian Morgenstern of Riot Platforms, Salman Khan of Digital Marathon, and Amanda Fabiano by Fabiano Consulting, former Head of Mining at Galaxy and Director of Bitcoin Mining at Fidelity.

After the meeting, Donald Trump posted on his Truth Social saying that he wants all “remaining Bitcoin to be made in the US.” and that “it would help us to be dominant in energy terms.”

Trump's supportive stance toward Bitcoin contrasts sharply with that of his competitor, Joe Biden. The current administration, under Biden, has taken a hostile approach toward the industry, including a reluctance to adopt Bitcoin and other cryptocurrencies. The Biden administration has been seen as being less supportive of Bitcoin and more supportive of a central bank digital currency (CBDC).

A couple of weeks ago, Donald Trump historically became the first US president to accept donations from the Bitcoin Lightning Network, following comments he recently made saying he wants the future of cryptocurrencies to be in the United States and not abroad due to strict regulations. Trump also said that he “will support the right to self-custody of the country's 50 million cryptocurrency holders.”

As Trump leads the presidential race, his support for Bitcoin and cryptocurrencies is earning him substantial support from the crypto community. With more than 50 million Bitcoin and cryptocurrency holders in the United States, Trump's commitment to the industry could play a critical role in securing a victory in November.

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