Donald Trump Calls for All Remaining Bitcoin to Be ‘Made in USA’

by | Jun 12, 2024 | Bitcoin | 0 comments

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Republican presidential candidate Donald Trump made a bold statement on Tuesday, emphasizing his desire for all remaining Bitcoin to be mined in the United States. He believes that this move would bolster the country’s energy dominance and strengthen its position in the global cryptocurrency landscape.

Trump’s comments, shared in a late-night post on Truth Social, highlighted his concerns about the geopolitical implications of Bitcoin mining. He argued that Bitcoin mining could serve as a crucial defense against the potential adoption of a Central Bank Digital Currency (CBDC), which he views unfavorably. Trump’s critique extended to the current administration, suggesting that President Biden’s stance on Bitcoin benefits adversaries like China and Russia, as well as domestic political opponents.

By advocating for Bitcoin mining to be concentrated in the U.S., Trump is likely pushing for increased involvement from American companies utilizing local resources. Currently, major Bitcoin mining operations are based in China, Central Asian countries, El Salvador, and some European nations like Germany. Trump’s vision aims to shift this dynamic, positioning the U.S. as a key player in the Bitcoin mining industry.

Earlier on Tuesday, Trump met with executives from prominent Nasdaq-listed Bitcoin mining firms, CleanSpark Inc. and Riot Platforms. During a gathering at Mar-a-Lago, he reportedly praised the role of Bitcoin miners in stabilizing the energy grid. This meeting underscores Trump’s commitment to integrating cryptocurrency mining into the broader energy strategy of the United States.

Bitcoin’s supply is inherently limited, capped at 21 million coins, a figure that is expected to be fully mined by the year 2140. According to data from Coingecko, approximately 90% of Bitcoin’s total supply has already been mined. This scarcity adds to the value and strategic importance of the remaining unmined Bitcoin, aligning with Trump’s vision of leveraging this resource for national benefit.

In summary, Trump’s recent statements and actions indicate a clear intention to bring Bitcoin mining to the forefront of U.S. economic and energy policies. By encouraging domestic Bitcoin mining, Trump aims to enhance the nation’s energy independence, protect against potential economic threats, and secure a leading role in the global cryptocurrency market. This move could reshape the Bitcoin mining landscape, positioning the U.S. as a dominant force in the industry.

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