Former US President and Republican presidential candidate Donald Trump, declared on Tuesday that he wants the last of Bitcoin to be mined in the United States.
As it comes under closer scrutiny from regulators—especially in light of the big crypto companies’ bankruptcy in 2022, which alarmed investors, exposed fraud and malfeasance, and left millions of investors out of pocket—the sector is attempting to exert more and more influence on American lawmakers.
Following a meeting with a number of CEOs from US crypto mining companies on Wednesday, Donald Trump reaffirmed his support for the cryptocurrency mining sector.
The presidential contender expressed his desire for “all the remaining Bitcoin to be MADE IN THE USA!!!” in a post on June 11 on the Truth Social website, which is owned by Trump and asserted that it would support the nation’s “energy dominance.”
He asserted that Bitcoin was the nation’s “last line of defense” in the event that the central bank issued digital money.
In March, Jerome Powell, the Chair of the Federal Reserve, stated that the United States was “nowhere near recommending or let alone adopting a digital currency in any form” as a central bank.
According to posts on X, Trump had already welcomed Bitcoin miners to his Florida Mar-a-Lago home. Among them were Amanda Fabiano, a board member of TeraWulf, CleanSpark executive chairman Matthew Schultz, CEO Jason Les of Riot Platforms, and the company’s public policy head, Brian Morgenstern.
According to Fabiano’s tweet, the group talked with Trump on how mining Bitcoin may contribute to “strengthening the electrical grid and fostering job creation.”
According to Schultz of CleanSpark, if Trump wins the presidency in November, he will back the industry.
TeraWulf’s Fabiano stated on X, “Our industry has faced an enormous amount of political struggle, fueled by misinformation and misguided narratives. “Our industry needs politicians that are interested in learning about the benefits of Bitcoin and Bitcoin mining.”
