Trump has pledged to support the BTC mining industry in the United States

The politician met with representatives of the media and the largest mining companies

12.06.2024 - 07:20

3 min

What’s new? Former US President Donald Trump has held a meeting with the CEO of the Bitcoin Magazine publication David Bailey and representatives of leading US mining companies Marathon Digital, CleanSpark, and Riot Platforms. During the conversation, the politician stated his intention to support the BTC mining industry.

Material by Bitcoin Magazine

What else is known? After the meeting, Trump posted a message on his social network Truth with an appeal to support his candidacy in the presidential election of 2024:

“VOTE FOR TRUMP! Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only helps China, 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’s stance on Bitcoin stands in stark contrast to that of his rival and current US President Joe Biden. The Biden administration is believed to be less supportive of bitcoin and more supportive of the digital dollar. The digital dollar project has been repeatedly criticized because of the risks of surveillance and censorship.

This year, Biden again proposed a 30% tax on mining and also vetoed a congressional decision that overturned a Securities and Exchange Commission (SEC) rule making it harder for crypto custodians to operate.

Media later reported that Biden’s campaign headquarters had become more open to the crypto sector after realizing that the issue could have an impact on the presidential race.

Media: Biden's staff has begun crypto industry consultations on policy and community outreach

The move came in response to criticism from the presidential administration for intending to veto the repeal of the anti-cryptocurrency initiative

Trump, for his part, has declared his intention to become “crypto president.” He started accepting donations in cryptocurrencies, noted the need to develop the United States as a crypto hub with friendly regulation. Also, he began exploring the use of bitcoin to address the national debt, and pledged again to prevent the issuance of a digital dollar if re-elected.

With over 50 million cryptocurrency holders in the US, Trump’s commitment to the industry could play a key role in securing victory.

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