Trump Backs Bitcoin Miners, Advocates for US Dominance

On Tuesday, June 12th, presidential candidate Donald Trump wrote that he wants all the remaining Bitcoin to be mined in the US. He also warned about CBDCs and taunted Biden for his anti-crypto stance.

As they impatiently await the next bull run, some crypto enthusiasts welcome any kind of major recognition of the crypto industry's value. Others, however, show concerns about crypto becoming politicized and more centralized.

Things are heating up ahead of the US elections, and this will hopefully be a positive signal for those invested in the crypto market.

Trump on Truth Social

Republican candidate Trump has once again expressed his support for the crypto industry, namely Bitcoin. He shared his opinion on the social media platform Truth Social.

Trump started the post by expressing his growing concern with CBDCs: “Bitcoin mining may be our last line of defense against a CBDC.” Central bank digital currencies are a major freedom and privacy concern often discussed by politicians, and Trump has spoken openly about them on several occasions.

“Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left,” he wrote next, warning about Biden’s pro-CBDC stance. It’s well-known that the Biden administration is a major proponent of a CBDC, and it has been pushing for its development for some time now.

Meeting with Miners

On the same day, Trump met with crypto industry leaders from two mining companies: Riot Platforms and CleanSpark. During the meeting, Trump voiced his support for Bitcoin miners and promised to advocate for them if he wins the election.

CleanSpark founder Matthew Shults later posted about this event on the social media platform X. “I just ran into a guy that’s a huge fan of Bitcoin and LOVES what we’re doing…” he wrote before sharing a photo of himself standing next to Donald Trump.

As of last month, Trump has also started accepting campaign donations in cryptocurrency.

Bitcoin Magazine

Bitcoin Magazine author Alex B. shared an interesting take on this topic on X.

He welcomed Trump's attempt to politicize and centralize Crypto: “We absolutely want the world's most powerful man to signal to every other power broker that Bitcoin mining is a geopolitical issue.”

But only because he hopes this will encourage the crypto community to keep decentralizing crypto’s infrastructure: “That's how you get everyone to start mining. That's how you decentralize the network.”