Donald Trump Commits to Championing Bitcoin Mining in DC

Today, Donald Trump met with Bitcoin Magazine's CEO David Bailey and several prominent U.S. Bitcoin miners. The meeting saw Trump commit to championing Bitcoin mining both in Washington D.C. and on the global stage.

Today was a historic moment in our journey towards hyperbitcoinization. The former and next President of the United States gathered America’s hashrate and committed to championing our cause in DC and on the global stage. Bitcoin will THRIVE in ????????

Orange Man+Orange Coin= Good

— David Bailey???????? $0.65mm/btc is the floor (@DavidFBailey) June 12, 2024

Among the attendees were representatives from leading Bitcoin mining firms, including CleanSpark, Riot Platforms, Marathon Digital, and other notable industry players. Key figures present included S Matthew Schultz from CleanSpark, Jason Les and Brian Morgenstern of Riot Platforms, Salman Khan of Marathon Digital, and Amanda Fabiano of Fabiano Consulting, formerly Head of Mining at Galaxy and Director of Bitcoin Mining at Fidelity.

Today, Riot CEO, @JasonLes_, and Riot’s Head of Public Policy, @MorgensternNJ, met with @realDonaldTrump to discuss #Bitcoin mining and energy. ????????

"President Trump will protect your right to own Bitcoin, to mine Bitcoin, to transact with Bitcoin, and for many of us, to work in…

— Riot Platforms, Inc. (@RiotPlatforms) June 12, 2024

After the meeting, Donald Trump posted on his Truth Social saying that he wants all "remaining Bitcoin to be made in the USA" and that "It would help us be energy dominant." 

Trump's supportive stance on Bitcoin is in stark contrast to his competitor, Joe Biden. The current administration, under Biden, has taken a hostile approach toward the industry, including reluctance to embrace Bitcoin and other cryptocurrencies. Biden's administration has been seen as less supportive of Bitcoin, and more supportive of a Central Bank Digital Currency (CBDC).

A couple weeks ago, Donald Trump historically became the first U.S. President to accept Bitcoin Lightning Network donations, following comments he made recently saying that he wants the future of crypto to be in America, and not driven overseas due to harsh regulations. Trump also said he "will support the right to self custody to the nations 50 million crypto holders."

As Trump leads in the presidential race, his support for Bitcoin and cryptocurrency is earning him substantial backing from the crypto community. With over 50 million Bitcoin and cryptocurrency holders in the United States, Trump's commitment to the industry could play a pivotal role in securing a win in November.