Trump Wants All Remaining Bitcoin Mined In The United States
The post Trump Wants All Remaining Bitcoin Mined In The United States appeared on BitcoinEthereumNews.com.
Trump met with Bitcoin mining execs at the former president’s Mar-a-Lago resort on June 11. Donald Trump is courting the Bitcoin mining industry in the Republican presidential candidate’s latest pro-crypto push. On June 11, Trump said he wants every remaining Bitcoin (BTC) to be mined within the United States. Trump added that bolstering the domestic mining industry will also serve to promote the country’s energy industry and protect the nation against hypothetical moves to introduce a central bank digital currency (CBDC). “Bitcoin mining may be our last line of defense against a CBDC,” Trump posted on his social media platform, Truth Social. “We want all the remaining Bitcoin to be made in the USA!!! It will help us be energy dominant.” Trump also held a meeting with executives from Bitcoin mining companies including CleanSpark Inc., Riot Blockchain, and Galaxy Digital at his Mar-a-Lago residence. Bitcoin’s supply is hard-capped at 21 million coins. Nearly 94% of BTC or 19.7 million coins have already been mined, much of which was produced in jurisdictions offering cheap renewable energy such as China. The final BTC is expected to be mined by the year 2140. Amanda Fabiano, head of mining at Galaxy Digital and one of the meeting’s attendees, tweeted that promoting the Bitcoin mining industry serves to strengthen the U.S. electrical grid and foster job creation, particularly in “small-town” areas. “Our industry has faced an enormous amount of political struggle, fueled by misinformation and misguided narratives,” she said. “Today, a representation of Bitcoin miners had the chance to explain that to President Trump.” CleanSpark co-founder, Matthew Schultz, was also present at the meeting. Schultz told Bloomberg that Trump committed to supporting the Bitcoin mining industry should he become re-elected. The news follows President Joe Biden proposing a 30% tax on electricity used for Bitcoin…
Filed under: News - @ June 12, 2024 12:12 pm