Trump wants Bitcoin ‘made in the USA’ after hosting mining industry heads
|Donald Trump reiterated his support for the Bitcoin mining industry on Wednesday after hosting a meeting with several executives from United States crypto mining firms.
In a June 11 post on the Trump-owned Truth Social, the presidential candidate said he wanted “all the remaining Bitcoin to be MADE IN THE USA!!! [sic]” and claimed it would help the country be “energy dominant.”
He claimed Bitcoin (BTC $67,467) was the country’s “last line of defense” against a central bank digital currency. Federal Reserve Chair Jerome Powell said in March the U.S. was “nowhere near recommending or let alone adopting a central bank digital currency in any form.”
Source: Donald Trump
It comes after Trump earlier hosted Bitcoin miners at his Florida Mar-a-Lago residence, including Riot Platforms CEO Jason Les and the firm’s public policy head Brian Morgenstern, CleanSpark executive chairman Matthew Schultz and TeraWulf board member Amanda Fabiano, according to posts on X.
Fabiano posted that the group discussed with Trump how Bitcoin mining can help with “strengthening the electrical grid and fostering job creation.”
CleanSpark’s Schultz told Bloomberg that Trump promised to support the sector should he be elected president in November.
“Our industry has faced an enormous amount of political struggle, fueled by misinformation and misguided narratives,” TeraWulf’s Fabiano said on X. “Our industry needs politicians that are interested in learning about the benefits of Bitcoin and Bitcoin mining.”
President Joe Biden has proposed a 30% electricity tax on Bitcoin miners in the country, and the sector is facing mounting political pressure over its emissions, energy consumption and possible impact on power grids.
Trump previously said Bitcoin “seems like a scam” while serving as president in 2021 but has recently changed tact in an attempt to court the industry’s now cash-flush lobbying groups in the lead-up to the 2024 presidential election slated for Nov. 5.
He recently stressed that the United States must not settle for “second place” when it comes to crypto and even declared himself as the “crypto president” earlier in June.
The billionaire also started accepting crypto to fund his presidential campaign in May and hosted a dinner for holders of his Mugshot non-fungible tokens.
Trump had his first parole officer meeting on June 10 after he was found guilty on 34 felony counts for falsifying business records on May 30.
Trump took the virtual interview from his Mar-a-Lago resort, which was rather “uneventful” and lasted less than 30 minutes, The Hill reported, citing unnamed sources.
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