In a significant development for the cryptocurrency industry, former U.S. President and current presidential candidate Donald Trump has pledged his support for the bitcoin mining sector. During a historic meeting with industry leaders, Trump emphasized that bitcoin mining could be the “last line of defense” against the implementation of a central bank digital currency (CBDC).
On Tuesday, Donald Trump met with key figures in the bitcoin mining industry, including Bitcoin Magazine CEO David Bailey and representatives from major American bitcoin mining companies such as Cleanspark, Riot Platforms, and Marathon Digital. Trump expressed his commitment to supporting bitcoin mining efforts both domestically and globally.
In a statement posted on his social media platform, Truth Social, Trump stated:
“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 has consistently voiced his opposition to the Federal Reserve’s potential creation of a central bank digital currency (CBDC). He highlighted the dangers such a currency could pose, arguing that it would grant the federal government absolute control over individuals’ money.
Trump’s meeting with bitcoin industry leaders underscores his intention to position the United States as a leader in the cryptocurrency space, aiming to produce the remaining bitcoin within the country and enhance America’s energy dominance. This move is seen as a strategic effort to bolster national security and economic independence in the face of growing international competition.