As a seasoned crypto investor, I’m keeping a close eye on the developments in the political arena that could impact our industry. And the latest move by Donald Trump to champion Bitcoin mining in the US is certainly worth noting.
Donald Trump is making efforts from multiple angles to attract the cryptocurrency community. Recently, he has advocated for Bitcoin mining not only in Washington D.C., but also on a global scale.
During a recent gathering with industry professionals, the GOP’s presidential nominee expressed his intention to have the remainder of Bitcoin mining take place within the United States. He is confident that this action would bolster America’s leadership in energy production.
Trump’s Crypto Crusade
As a crypto investor, I’m excited to share that some key players in the Bitcoin mining industry graced the recent meeting with their presence. Among them were Salman Khan from Marathon Digital, S Matthew Schultz from CleanSpark, Jason Les, and Brian Morgenstern from Riot Platforms. Additionally, Amanda Fabiano, who previously held a pivotal role as Head of Mining at Galaxy and Director of Bitcoin Mining at Fidelity, was also in attendance.
In his latest post on the social media platform Truth Social, Trump said,
“Mining Bitcoin could be our final safeguard against central bank digital currencies (CBDCs). President Biden’s dislike for Bitcoin benefits China, Russia, and the extreme left-wing communists. We aim to produce as much remaining Bitcoin as possible within the USA itself. This will contribute to our energy independence and dominance.”
Trump’s recent efforts are geared toward increasing the United States’ dominance in Bitcoin’s network hash rate, which currently stands at 38%, as reported by ChainBulletin. In comparison, China holds a 21% share, and Canada follows with a 6.5% share.
Trump Leverages Crypto Advantage Over Biden
The cryptocurrency sector is becoming more politically active in the United States as it grapples with intensifying regulatory oversight. Notable accomplishments, such as the acceptance of Bitcoin and Ethereum exchange-traded funds (ETFs), have been achieved. However, former President Trump is making bold moves to win over voters through his engagement with US politicians.
Lately, Trump has adopted the use of cryptocurrencies as a new means to criticize the Biden administration. This unexpected change in stance has become a significant point of contention in the forthcoming presidential election.
Last month at the Libertarian National Convention in Washington D.C., Trump declared his support for Bitcoin’s success in the US during his tenure. He pledged to uphold the autonomy of crypto holders to self-manage their assets, while simultaneously warding off adversaries like Elizabeth Warren from interfering. Additionally, he expressed opposition towards the establishment of a Central Bank Digital Currency (CBDC).
As a crypto investor, I’m keeping an eye on the latest developments in the presidential race. According to the most recent polls, Trump is currently in the lead with approximately 40.9% of the voter support. On the other hand, Biden trails behind with around 40% of the votes. It’s important to note that Robert F. Kennedy Jr, an independent candidate, has managed to gain over 9% of the voter support.
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2024-06-12 14:00