Donald Trump has a new plan: he wants all the remaining Bitcoin to be mined in the United States. He believes this will help the U.S. become stronger in energy and protect against a central bank digital currency (CBDC).
Trump, who is the first U.S. presidential candidate to accept crypto donations, met with leaders from top Bitcoin mining companies, including CleanSpark Inc. and Riot Platforms, at his Mar-a-Lago home. He told them that more Bitcoin mining in the U.S. could help stabilize the power grid and create jobs. Trump shared his thoughts on his social media platform, Truth Social, saying, “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.”
This is a big change for Trump, who once called Bitcoin a “scam” when he was president in 2021. Now, as he runs for president again in 2024, he seems to support the crypto industry. Trump has started accepting cryptocurrency donations for his campaign and calls himself the “crypto president.”
During the meeting, the Bitcoin mining leaders explained how their work could strengthen the U.S. power grid and boost the economy. Trump promised to support them, saying the U.S. needs to lead in the crypto world and not let countries like China sand Russia take the lead.
President Joe Biden has suggested a 30% electricity tax on Bitcoin miners, worrying about the impact on the environment and energy use. Despite these challenges, Trump’s support could mean big changes if he wins the election.
The 90% have already been mined. The rest 10% will be mined by the year 2140. Trump wants most of these remaining Bitcoins to be mined in the U.S., helping to keep the country safe and strong.
In summary, Donald Trump’s idea to mine all remaining Bitcoin in the U.S. aims to make the country more powerful in energy and protect against financial risks. His support for Bitcoin mining could make a big difference for the U.S. if he becomes president again.