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Trump Still Drums Support for Bitcoin, Shifts Attention to Supporting Miners

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By Erika John - - 5 Mins Read
Donald Trump art portrait illustration
Photo | DannyOliva / Shutterstock.com

Former US President Donald Trump has again shown his support for Bitcoin, shifting his focus to backing Bitcoin miners in the USA.

Matthew Schultz, co-founder of the Nasdaq-listed Bitcoin mining firm CleanSpark Inc., recently tagged Trump as a “huge fan of Bitcoin” following a meeting with him.

Schultz shared on social media platform X about the 2024 Republican Presidential Candidate’s enthusiastic support for Bitcoin.

According to a Bloomberg report, Trump met with several Bitcoin miners at his Mar-a-Lago estate on June 11. During this meeting, he expressed his enthusiasm for fostering Bitcoin mining in the USA.

Trump promised to advocate for Bitcoin miners if he returns to the White House.

Trump’s support for Bitcoin mining contrasts sharply with President Joe Biden’s anti-crypto stance.

Trump has openly criticized Biden’s skeptical approach to cryptocurrency, stating that Biden doesn’t understand crypto.

In his X post, Schultz mentioned “So.  I just ran into a guy that’s a huge fan of #bitcoin and LOVES what we’re doing at @CleanSpark_Inc in #georgia and #mississippi and #wyoming.”

CleanSpark Inc. has been making significant strides in Bitcoin mining across these states, and Trump’s support could boost their efforts

Jason Les, the CEO of North American Bitcoin mining firm Riot Platforms, met Trump at the event.

Riot Platforms shared on X Today, Riot CEO, @JasonLes_, and Riot’s Head of Public Policy, @MorgensternNJ, met with @realDonaldTrump to discuss #Bitcoin mining and energy. 🇺🇸

"President Trump will protect your right to own Bitcoin, to mine Bitcoin, to transact with Bitcoin, and for many of us, to work in the Bitcoin industry,”

Trump’s pro-crypto stance has garnered significant attention as the U.S. presidential election approaches.

He has welcomed campaign donations in cryptocurrency, positioning himself as a strong advocate for a crypto-friendly regulatory framework.

This stance has made him a favorite among the crypto community, especially in contrast to Biden’s policies.

Trump’s vision for Bitcoin mining in the USA is ambitious. He recently stated that he wants all the remaining Bitcoin mined in the USA, emphasizing that it will help the country become energy-dominant.

This statement indicates his desire to see more Bitcoin mining done by U.S. companies using local resources.

Currently, major Bitcoin mining hotspots include China, Central Asian countries, El Salvador, and some European countries like Germany.

Trump’s support for Bitcoin and Bitcoin mining reflects his broader vision for the future of cryptocurrency in the USA. He sees Bitcoin as a crucial element in maintaining financial independence and security, especially against the backdrop of central bank digital currencies (CBDCs).

His commitment to fostering a favorable environment for Bitcoin mining could have significant implications for the industry, potentially boosting the USA’s position in the global Bitcoin mining landscape.

Conclusion

Donald Trump’s continued support for Bitcoin and focus on promoting Bitcoin mining in the USA highlights a significant shift in his campaign strategy. 

By advocating for Bitcoin miners and promising to create a supportive regulatory framework, Trump is positioning himself as a champion of the cryptocurrency industry.

This pro-crypto stance, especially in contrast to President Biden’s policies, could play a pivotal role in the upcoming presidential election and the future of Bitcoin mining in the USA.

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