Trump Pledges Support for Bitcoin Mining in Meeting with Key Industry Figures
Former U.S. President and presidential candidate Donald Trump has shown his support for the Bitcoin mining industry, emphasizing its importance in countering central bank digital currencies (CBDCs). Trump highlighted the critical role of producing the remaining Bitcoin within the U.S., suggesting it could bolster America’s energy dominance.
In a notable development for the crypto industry, Trump met with key figures in Bitcoin mining on Tuesday. During the meeting, he discussed the industry’s future with David Bailey, CEO of Bitcoin Magazine, and representatives from leading U.S. Bitcoin mining companies, including Cleanspark, Riot Platforms, and Marathon Digital. Trump pledged to support Bitcoin mining efforts in Washington, D.C., and globally.
Trump took to his social media platform, Truth Social, on Wednesday to reiterate his stance: “Vote for Trump! Bitcoin mining might be our last line of defense against CBDCs. Biden’s hatred of Bitcoin only helps Russia and the radical left. We want all remaining Bitcoin to be mined in the U.S.! This will help us become energy dominant!”
Trump has consistently promised to prevent the Federal Reserve from creating a CBDC. “You know what they’re doing. Such a currency would give the federal government—our federal government—absolute control over your money. They can take your money. You wouldn’t even know it was gone. This would be a dangerous threat to freedom, and I will stop it from coming into the United States.”
David Bailey, following his meeting with Trump, commented on social media platform X, calling it a “historic moment for hyperbitcoinization.” He added, “The former and next President of the United States gathered American hash power and committed to supporting our cause on the Washington and global stage,” emphasizing that Bitcoin will thrive in the U.S.
Recently, Trump’s campaign began accepting cryptocurrency donations. This move has garnered significant support from the crypto community, as Trump expresses his commitment to protecting cryptocurrency holders’ rights. He has promised to halt President Joe Biden’s anti-crypto policies, positioning himself as the “crypto president.”
Trump has stressed that the Biden-Gensler (referring to SEC Chair Gary Gensler) anti-crypto campaign will end within an hour of his second term in office. In March, he referred to Bitcoin as “another form of currency.” In February, he acknowledged Bitcoin’s growing popularity, noting that it has “taken on a life of its own,” and he “can accept that.”
This strong stance on cryptocurrency and Bitcoin mining is expected to shape the ongoing debate about the future of digital currencies in the U.S., making it a focal point of Trump’s campaign.
