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News

Trump Voices Support for More Domestic BTC Mining

Trump wants remaining coins 'MADE IN THE USA!!!'
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Jun 12, 2024 • 1 min read

In an all-caps and exclamation-filled message posted on his Truth Social account, presumptive GOP Presidential candidate Donald Trump said he wants all remaining Bitcoin to be mined domestically, or, in his words, "MADE IN THE USA!!!"

What's the scoop?

  • Presidential Stance: Donald Trump expressed his desire for all remaining Bitcoin to be mined in the U.S., positioning it as a strategic move against a central bank digital currency (CBDC), reiterating his stance on Truth Social, saying “Bitcoin mining may be our last line of defense against a CBDC.”
  • Energy Industry Engagement: Trump believes domestic Bitcoin mining will help the U.S. achieve energy dominance. Early Tuesday, Trump met with executives from Nasdaq-listed bitcoin mining firms CleanSpark Inc. and Riot Platforms, emphasizing the role of miners in stabilizing the grid's energy supply.

Bankless Take:

Besides demonstrating the increasing politicization of crypto, Trump's push for U.S. Bitcoin mining brings Bitcoin to the forefront as an antithesis to CBDCs and the role the cryptocurrency can play in energy dominance. Whether this is a long-term interest of Trump, the conversation does bring this conversation into the public debate, which could lead people to research the implications of Bitcoin more or, at the very least, begin to see the currency's intricacies.

Not financial or tax advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This newsletter is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here.

Published in Bankless

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