Trump wants Bitcoin ‘Made in America’ after inviting mining industry heads

Donald Trump reiterated his support for the Bitcoin (BTC) mining industry on Wednesday after hosting a meeting with several executives from U.S. cryptocurrency mining companies.

In a June 11 post on Trump-owned Truth Social, the presidential candidate said, “I want all the rest of Bitcoin to be MADE IN THE USA!!!” (sic)” and claimed it would help the country become “energy dominant.”

He argued that Bitcoin is the country’s “last line of defense” against central bank digital currencies. Federal Reserve Chairman Jerome Powell said in March that the United States had “no intention whatsoever to encourage or adopt the adoption of central bank digital currencies in any form.”

According to a post by This came after miners were invited. .

Fabiano posted that he discussed with Trump how Bitcoin mining could help “strengthen the power grid and spur job creation.”

CleanSpark’s Schultz told Bloomberg that President Trump has pledged to support the sector if he is elected president in November.

“Our industry is facing a huge amount of political struggle due to misinformation and false narratives,” TeraWulf’s Fabiano said of X. “Our industry has politicians who are interested in learning about Bitcoin and the benefits of Bitcoin mining. “We need this,” he said.

President Joe Biden has proposed a 30% electricity tariff for domestic Bitcoin miners, and the sector is facing mounting political pressure over emissions, energy consumption and the impact it could have on the power grid.

Trump previously said Bitcoin “looks like a scam” during his 2021 presidency, but recently changed his tune. This appears to be an attempt to save the industry’s cash-flush lobbying group ahead of the 2024 presidential election scheduled for November 5. .

He recently emphasized that the United States should not settle for ‘second place’ in the cryptocurrency space, and in early June declared himself the ‘Crypto President.’

Related: Trump Convicted: Is Crypto-Backed Presidential Candidate in Danger?

The billionaire also began accepting cryptocurrency to fund his presidential campaign late last month and hosted a dinner for Mugshot non-fungible token holders last month.

Trump held his first meeting with parole officers on June 10 after being convicted on May 30 of 34 felonies for falsifying business records.

Trump conducted a virtual interview from his Mar-a-Lago resort, which was somewhat “calm” and lasted less than 30 minutes, The Hill reported, citing unnamed sources.

opinion: GOP Cryptocurrency Maxis Is Just as Bad as the Democrats’ ‘Anti-Crypto Army’