BTCUSDT: Trump: Push for All Remaining Bitcoin Production in USA
The Former President Donald Trump said All Bitcoin should be mined in the US and Made in USA for All bitcoins, we have to be stand first in the Bitcoin mining against other countries. Bitcoin miners are energy conservers and Trump Believed that Bitcoin mining is for energy Dominance in the US compared to other countries.
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Donald Trump, the Republican presidential candidate, recently expressed his desire for all remaining Bitcoin to be mined in the United States. He views this as crucial in defending against the potential introduction of a central bank digital currency (CBDC). Trump believes that making Bitcoin in the U.S. would contribute to the nation’s goal of achieving energy dominance.
In a statement posted on the social media platform Truth Social, Trump emphasized the importance of Bitcoin mining as a strategic asset. He argued that President Biden’s opposition to Bitcoin only benefits other countries like China, Russia, and the Radical Communist Left. Trump’s remarks underscore his commitment to positioning the U.S. as a leader in Bitcoin production.
Earlier, Trump, who is notable for being the first U.S. presidential candidate to accept cryptocurrency donations, held discussions with executives from CleanSpark Inc. and Riot Platforms, both Nasdaq-listed Bitcoin mining companies. During the meeting at Mar-a-Lago, Trump highlighted the role of miners in stabilizing the energy supply from the grid.
Currently, Bitcoin’s total supply is capped at 21 million coins, and approximately 90% of this supply has already been mined. According to Coingecko, Bitcoin mining is expected to continue until the year 2140.
BTCUSDT: Trump’s Call: All Remaining Bitcoin Production in the US
Former President Donald Trump has made a bold statement advocating for all Bitcoin production to occur within the United States. According to Trump, it is imperative that the U.S. establishes itself as the global leader in Bitcoin mining. He asserts that Bitcoin miners play a crucial role in conserving energy resources. Furthermore, Trump firmly believes that Bitcoin mining contributes to enhancing energy dominance within the United States when compared to other nations.
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Donald Trump, the Republican presidential candidate, made a statement on Tuesday expressing his desire for all remaining Bitcoin to be produced in the United States. This remark comes amidst a backdrop of growing efforts by the cryptocurrency industry to engage with U.S. policymakers. The industry is seeking to navigate heightened regulatory scrutiny, particularly following the high-profile bankruptcies of major crypto firms in 2022. These incidents shook investor confidence, revealed instances of fraud and misconduct, and resulted in financial losses for millions of investors. As a result, there is an increasing focus on influencing U.S. politicians to shape regulatory policies that can ensure the stability and legitimacy of the cryptocurrency sector.
BTCUSDT: Trump’s Pro-Crypto Move: Meets Bitcoin Miners
Former President Donald Trump recently advocated for all Bitcoin to be mined in the United States, emphasizing the importance of ensuring that Bitcoin production occurs domestically. Trump emphasized the need for the U.S. to lead in Bitcoin mining, positioning it as a strategic asset against other nations. He expressed his belief that Bitcoin miners play a crucial role in conserving energy and asserted that Bitcoin mining contributes to energy dominance in the U.S. compared to other countries. This stance underscores Trump’s commitment to promoting American leadership in the cryptocurrency industry and harnessing its potential for energy-related advantages.
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Several Bitcoin miners, including executives from CleanSpark Inc. and Riot Platforms Inc., reportedly met with former President Donald Trump at Mar-a-Lago on Tuesday night. Matthew Schultz, executive chairman at CleanSpark Inc., revealed that during the meeting, Trump expressed his support for cryptocurrency, stating that he loves and understands it. Trump emphasized the role of Bitcoin miners in stabilizing the energy supply from the grid and pledged to advocate for them if elected to the White House.
Trump’s interest in cryptocurrency has been evident in recent weeks, with him highlighting it as a means to connect with new voters. He has received advice from prominent figures like Elon Musk and has shown support for the crypto community by accepting donations in digital assets. Additionally, Trump has pledged to commute the sentence of Ross Ulbricht, the founder of the Silk Road online marketplace.
Jason Les, CEO of Riot Platforms Inc., was also among those who met with Trump at Mar-a-Lago.
The meeting comes at a time when crypto miners are facing criticism over their environmental impact, particularly regarding energy consumption and carbon emissions. Democrats have been pushing for increased scrutiny of Bitcoin miners in relation to climate change, while Texas Senator Ted Cruz has been a vocal supporter of the industry.
Meanwhile, the crypto sector is actively supporting political candidates who are seen as favorable to digital assets, including through donations to political action committees like Fairshake.
Since China enforced a ban on the crypto industry in 2021, the United States has become the primary hub for Bitcoin mining. This energy-intensive process involves using powerful computers to validate encrypted transactions on the Bitcoin blockchain, with miners earning tokens as rewards.
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