Donald Trump Advocates for Domestic Bitcoin Production Following Meeting with Mining Industry Leaders

• Presidential candidate Donald Trump expressed his desire for “all the remaining Bitcoin to be MADE IN THE USA!!! [sic]” and asserted that this would assist the nation in becoming “energy dominant.”

The presidential candidate demonstrated his backing for the cryptocurrency mining sector following discussions with executives on how they could enhance the electrical grid and generate new employment opportunities.

Donald Trump reaffirmed his endorsement of the Bitcoin mining sector on Wednesday after convening a meeting with various leaders from U.S. cryptocurrency mining companies.

In a June 11 message on the Trump-owned Truth Social, the presidential candidate stated he wanted “all the remaining Bitcoin to be MADE IN THE USA!!! [sic]” and claimed it would aid the country in achieving “energy dominance.”

He asserted that Bitcoin (BTC) represented the nation’s “last line of defense” against a central bank digital currency.

Federal Reserve Chair Jerome Powell indicated in March that the U.S. was “nowhere near recommending or let alone adopting a central bank digital currency in any form.”

This follows Trump’s earlier meeting with Bitcoin miners at his Mar-a-Lago estate in Florida, which included Riot Platforms CEO Jason Les and the firm’s public policy head Brian Morgenstern, CleanSpark executive chairman Matthew Schultz, and TeraWulf board member Amanda Fabiano, as noted in posts 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.

We must encourage growth of the Bitcoin mining… pic.twitter.com/jLtV8uXJwP

— Amanda Fabiano (@_amanda_fab) June 12, 2024

Fabiano shared that the group talked with Trump about how Bitcoin mining could assist in “strengthening the electrical grid and fostering job creation.”

Very good meeting with President Trump on #Bitcoin and U.S. energy dominance!!! pic.twitter.com/gvjYO6KNAt

— Jason Les (@JasonLes_) June 11, 2024

CleanSpark’s Schultz informed Bloomberg that Trump pledged to support the industry if he were to be elected president in November.

“Our industry has faced an enormous amount of political struggle, fueled by misinformation and misguided narratives,” TeraWulf’s Fabiano stated on X.

“Our industry needs politicians that are interested in learning about the benefits of Bitcoin and Bitcoin mining.”

President Joe Biden has suggested a 30% electricity tax on Bitcoin miners in the country, and the sector is encountering increasing political scrutiny regarding its emissions, energy usage, and potential effects on power grids.

Trump previously remarked that Bitcoin “seems like a scam” during his presidency in 2021 but has recently shifted his stance in an effort to engage with the industry’s now financially robust lobbying groups ahead of the 2024 presidential election scheduled for Nov. 5.

He has recently emphasized that the United States must not accept “second place” in the realm of cryptocurrency and even labeled himself as the “crypto president” earlier in June.

The billionaire also began accepting cryptocurrency to finance his presidential campaign in May and hosted a dinner for holders of his Mugshot non-fungible tokens.

Trump had his first parole officer meeting on June 10 after being found guilty on 34 felony counts for falsifying business records on May 30.

Trump conducted the virtual interview from his Mar-a-Lago resort, which was described as rather “uneventful” and lasted less than 30 minutes, The Hill reported, citing unnamed sources.