Republican presidential candidate, Donald Trump earlier today, hosted a group of Bitcoin miners at his Mar-a-Lago residence in Florida. During the meeting, he reiterated his support for cryptocurrency while advocating for Bitcoin mining to be fully done in the U.S.
Several notable mining companies including CleanSpark, Riot Platforms, and Marathon Digital, had their representatives at the event. Also, key industry leaders like Matthew Schultz, the founder of CleanSpark, Amanda Fabiano founder of Fabiano Consulting and founding member of Galaxy Digital’s Mining Business, Jason Les and Brian Morgenstern, the CEO, and the Head of Public Policy at Riot Platforms, and the CFO at Marathon Digital, Salman Khan.
The recent event is part of a series of events hosted by Trump to advance his campaign for the presidential election slated to happen on November 5, 2024. Trump’s continuous support for cryptocurrency has rallied the majority of the industry behind him, securing a solid stance ahead of the coming election.
Trump Advocates For Bitcoin Mining in the U.S.
According to a post by Amanda Fabiano on X (formerly Twitter), the group engaged Trump in discussions relating to how Bitcoin mining can help with creating new jobs and strengthening the electrical grid. She expressed that the industry needs politicians who are open to learning the advantages of Bitcoin and the benefits of Bitcoin mining.
Trump championed Bitcoin mining in a recent post on Truth Social, an alt-tech social media platform owned by Trump Media, by stating that it could be the “last line of defense against CBDC.” Recall that even though Trump is a proponent of cryptocurrency, he has constantly expressed his disagreement with the establishment of Central Bank 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 said in the post.
Trump’s support for the crypto industry comes in contrast to President Biden. His administration has taken a stringent stance against the industry, proposing a 30% tax for Bitcoin miners in the country while the industry is facing backlash about the potential effect on power grids and its heavy energy consumption. However, unlike Trump, the Biden administration is more supportive of the CBDC than other cryptocurrencies.
Coinfomania previously reported that Trump restated his support for crypto at a tech fundraiser in San Francisco where about $12 million was raised for his campaign. During the event, he criticized the Democratic hostile approach to the crypto industry while pitching himself as a crypto president.
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