Donald Trump promises to defend Bitcoin mining in DC
Today, Donald Trump met with David Bailey, CEO of Bitcoin Magazine, and several prominent American Bitcoin miners. The conference saw President Trump pledge to advocate for Bitcoin mining in Washington DC and on the global stage.
Today was a historic moment in the journey toward hyperbitcoinization. Past and future presidents of the United States have dedicated themselves to harvesting America’s hashrate and championing our cause in DC and on the world stage. Bitcoin will thrive in 🇺🇸
Orange Man + Orange Coin = Good pic.twitter.com/YhfzoJg19g
— David Bailey🇵🇷 $0.65mm/btc bottoms (@DavidFBailey) June 12, 2024
Among the attendees were representatives from leading Bitcoin mining companies, including CleanSpark, Riot Platforms, Marathon Digital, and other well-known industry players. Key figures in attendance included S Matthew Schultz of CleanSpark, Jason Les and Brian Morgenstern of Riot Platforms, Salman Khan of Marathon Digital, and Amanda Fabiano of Fabiano Consulting, former Head of Galaxy Mining and Director of Bitcoin Mining at Fidelity.
Today, Riot CEO, @JasonLes_Head of Public Policy at Riot; @MorgensternNJmet together @realDonaldTrump have a discussion #Bitcoin Mining and Energy. 🇺🇸
"President Trump will protect the rights of many of us to own Bitcoin, mine Bitcoin, transact with Bitcoin, and work. pic.twitter.com/T0CFKR3hOv
— Riot Platforms (@RiotPlatforms) June 12, 2024
Trump’s support for Bitcoin stands in stark contrast to his rival, Joe Biden. The current administration under Biden has taken a hostile approach to the industry, including a reluctance to embrace Bitcoin and other cryptocurrencies. The Biden administration was seen as less supportive of Bitcoin and more supportive of central bank digital currencies (CBDCs).
A few weeks ago, Donald Trump historically became the first US president to accept a Bitcoin Lightning Network donation. He became the first US president to accept a Bitcoin Lightning Network donation, following his recent statement that he wanted the future of the cryptocurrency to be in the US rather than abroad due to strict regulations. President Trump also said he would “support self-custody for 50 million cryptocurrency holders.”
While Trump is leading in the presidential race, his support for Bitcoin and cryptocurrencies is gaining significant support from the cryptocurrency community. With more than 50 million Bitcoin and cryptocurrency holders in the U.S., Trump’s commitment to the industry could play a pivotal role in securing a victory in November.
