US presidential candidate Donald Trump hosts crypto mining industry heads seeking Bitcoin to be mined in the USA to create more jobs.
After hosting a meeting with several executives from United States crypto mining firms on Wednesday, Donald Trump reiterated his support for the Bitcoin mining industry.
The presidential candidate expressed his desire for “all the remaining Bitcoin to be MADE IN THE USA!!!” in a post on the Trump-owned Truth Social on June 11. and asserted that it would assist the nation in achieving “energy dominance.”
He asserted that Bitcoin was the nation’s “last line of defense” against a digital currency issued by the central bank. In March, Federal Reserve Chair Jerome Powell stated that the United States was “far from recommending or, for that matter, adopting a central bank digital currency in any form.”
It follows Trump’s previous hosting of Bitcoin miners at his Florida Mar-a-Lago residence, 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, according to posts on X.
Fabiano reported that the group conversed with Trump regarding the potential of Bitcoin mining to contribute to the “strengthening of the electrical grid and the promotion of job creation.”
Schultz of CleanSpark informed Bloomberg that Trump pledged to assist the sector if he were elected President in November.
TeraWulf’s Fabiano stated on X, “Our industry has encountered a significant amount of political conflict, which has been exacerbated by misinformation and misguided narratives.” “Politicians interested in learning about the advantages of Bitcoin and Bitcoin mining are essential for our industry.”
President Joe Biden has suggested a 30% electricity tax on Bitcoin miners in the country, and the sector is currently under increasing political pressure due to its emissions, energy consumption, and potential impact on power grids.
While serving as President in 2021, Trump stated that Bitcoin “seems like a scam.” However, he has recently shifted his stance, seemingly to court the industry’s now cash-flush lobbying organizations in the lead-up to the 2024 presidential election, which is scheduled for November 5.
In June, he declared himself the “crypto president” and recently emphasized that the United States must not accept “second place” in the crypto field.
Late last month, the billionaire began accepting cryptocurrency to finance his presidential campaign and hosted a dinner for holders of his Mugshot non-fungible tokens.
After being convicted of 34 felony counts of falsifying business documents on May 30, Trump attended his initial parole officer meeting on June 10.
The Hill reported that Trump conducted the virtual interview from his Mar-a-Lago resort, which was relatively uneventful and lasted less than 30 minutes, citing unnamed sources.