Trump Advocates for U.S. Bitcoin Mining to Counter CBDCs

Trump Advocates for U.S. Bitcoin Mining to Counter CBDCs

United States presidential candidate Donald Trump has pledged robust support for the Bitcoin mining industry. Meeting with key figures in the sector in his Palm Beach, Mar-a-Lago Club, on Tuesday, Trump emphasized his commitment to ensuring the dominance of Bitcoin mining on U.S. soil and leveraging it as a strategic asset against central bank digital currencies (CBDCs).

Notably, the gathering included prominent industry leaders from Bitcoin mining firms like Riot Platforms, Marathon Digital, and Fabiano Consulting. Trump took to his social media platform, Truth Social, to reinforce his message. He strongly desired the U.S. to control the remaining global Bitcoin supply, arguing that this move would bolster the nation’s energy sector. 

Vote for Trump! Bitcoin mining may be our last line of defense against a CBDC Biden’s hatred of Bitcoin only helps chine, Russia, and the radical communist left. We want all the remaining bitcoin to be made in the USA!!! It will help us be energy dominant!!!” Trump wrote.

During a recent address at the Libertarian Party’s national convention, Trump reiterated his vision for the U.S. to become a leading force in the cryptocurrency industry. He also made headlines by promising to pardon Ross Ulbricht, the founder of the Silk Road darknet market which was alleged to have used Bitcoin for illegal business transactions, should he win the presidential election.

At a campaign event last week, Trump dubbed himself the “crypto president,” lambasting the Democratic Party’s regulatory stance on cryptocurrencies.  Last week, billionaire Mark Cuban noted that the candidates’ views on cryptocurrencies are a defining issue in the upcoming election. He also questioned Biden’s understanding of crypto, hinting that he could lose to a pro-crypto candidate

I have said many times that Biden has to choose between Gensler or crypto voters or it could cost him the Whitehouse,” tweeted Cuban.

Meanwhile, Trump’s rhetoric also seems to resonate with a significant portion of the crypto community with a recent Paradigm poll revealing that about 48% of voters who own digital assets plan to support Trump, while 38% favor President Biden, and 13% remain undecided.

That said, Trump’s pro-Bitcoin stance marks a notable shift in the political discourse around cryptocurrencies in the U.S. While other candidates, including lawyer Robert F. Kennedy Jr, have promised to protect and promote Bitcoin within the U.S., Trump is seen as a formidable candidate whose ideals aim to position the U.S. as a formidable player in the global digital currency arena, countering the perceived threats posed by cryptocurrencies, particularly under the SEC chair Gensler’s regime.

Michael Boris
Michael Is A Blockchain Expert And Proficient Crypto Reporter At CoinJot Media With An Academic Degree In Journalism. Disclosure: He owns less than 1 BTC and less than 4 ETH. Contact: [email protected]