Republican presidential candidate and former cryptocurrency skeptic Donald Trump wants all remaining Bitcoin to be made in the U.S.
“Bitcoin mining may be our last line of defense against a CBDC,” Trump said late Tuesday night in a post on his social media site Truth Social, referring to a Central Dank Digital Currency. “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 met with Bitcoin miners at his Mar-a-Lago resort earlier Tuesday. He told them that Bitcoin miners help stabilize the electric grid’s energy supply, Bloomberg reports.
Bitcoin is generated by miners who use computer hardware to solve complex mathematical problems and verify transactions on the blockchain network. Bitcoin has a fixed supply of 21 million, which is expected to be fully mined by 2140.n About 90% of that supply has already been mined.
Current Bitcoin mining countries include China, countries in Central Asia, El Salvador, and some European countries.
Trump has emerged as a strong Bitcoin supporter ahead of his 2024 election rematch with President Joe Biden — contrary to Trump’s stance just a few years ago. He has previously denounced Bitcoin as “a scam against the U.S. dollar.” He has also called cryptocurrency “a disaster waiting to happen” and said he is “not a fan of it.” But now he says he is “good” with it.
Last month, he declared himself the pro-crypto candidate. His campaign also now accepts donations in Bitcoin, Ether, Dogecoin, Solana, and other cryptocurrencies.
Trump’s shift on cryptocurrency puts him in opposition to some Democrats, who have traditionally opposed it. Sen. Elizabeth Warren, D-Mass., has pushed for more crypto regulation. But this year even some Democrats are singing a more pro-cryptocurrency tune, distancing themselves from Warren on the issue. The House last month passed a crypto bill that aims to regulate the industry at large.
