- Trump declares support for Bitcoin mining globally
- Trump wants the remaining Bitcoin to be mined in the US
- But Biden’s stance so far contradicts Trump’s support
Bitcoin mining in the United States and across the world has gotten a rare boost as the former US president and candidate in the forthcoming November presidential elections, Donald Trump, promised to support miners.
Trump disclosed his support when he met with the CEO of Bitcoin Magazine and several other prominent Bitcoin miners in the US.
The meeting had in attendance representatives of prominent Bitcoin mining firms, including Riot Platforms, Marathon Digital and CleanSpark. Prominent figures who attended the meeting include S Matthew Schultz from CleanSpark, Jason Les and Brian Morgenstern of Riot Platforms, Salman Khan of Marathon Digital, and Amanda Fabiano of Fabiano Consulting, formerly Head of Mining at Galaxy and Director of Bitcoin Mining at Fidelity.
Trump took to his Truth Social platform shortly after the meeting to post about the need for the “remaining Bitcoin to be made in the USA,” stating that it would help the country to become “energy dominant.”
The meeting generated excitement among key industry players; some took to their X accounts to express their happiness.
David Bailey, the CEO of BTC Inc., the parent company of Bitcoin Magazine, posted a picture of himself and Trump, saying: “Today was a historic moment in our journey towards hyperbitcoinisation.” The post further noted that “the former and next President of the United States gathered America’s hashrate and committed to championing our cause in DC and on the global stage. Bitcoin will THRIVE in the US.”
Also, Riot Platforms Inc. posted pictures of its CEO, Jason Lee and Head of Public Policy, Brian Morgenstern, with Trump on its X account.
“Today, Riot CEO, @JasonLes_, and Riot’s Head of Public Policy, @MorgensternNJ, met with @realDonaldTrump to discuss #Bitcoin mining and energy,” the post read.
Trump’s support contrasts Biden’s stance
The support of Trump for Bitcoin contradicts the stance of the current US president, Joe Biden, on not just Bitcoin but cryptocurrencies generally. The Biden administration has not hidden its reluctance to embrace Bitcoin but has shown support for a Central Bank Digital Currency (CBDC).
Trump made history a few weeks ago when he accepted donations from the Bitcoin Lightning Network. This was in response to remarks he had made earlier in which he expressed his desire for the future of cryptocurrency to remain in America rather than be driven abroad by restrictive laws. Additionally, Trump declared that he "will support the nation's 50 million cryptocurrency holders' right to self custody."
