Trump Announces He’s ‘Made The Decision’

OPINION:  This article contains commentary which may reflect the author’s opinion

This week, former President Donald Trump declared his intention for the all of the remaining bitcoin to be produced in the US, reinforcing his belief that it will assist the US in gaining energy dominance.

“Bitcoin mining may be our last line of defense against a CBDC. Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT,” Trump said in a late-night post on the social media platform Truth Social.

“Trump’s post likely indicates he’d like to see more bitcoin mining done by U.S. companies using local resources. Current mining hotspots are China, Central Asian countries, El Salvador, and some European countries such as Germany, data shows,” CoinDesk reported.

“Early Tuesday, Trump, the first U.S. presidential candidate to accept crypto donations, met with executives of Nasdaq-listed bitcoin mining firm CleanSpark Inc. and Riot Platforms. The former President reportedly told the attendees at the Mar-a-Lago event that miners help stabilize the grid’s energy supply. Bitcoin’s supply is capped at 21 million, which is scheduled to be mined through the year 2140, according to Coingecko. As of now, 90% of the supply has been mined,” the outlet added.

Trump gained notoriety earlier this month at the Libertarian National Convention when he declared his support for Bitcoin and other cryptocurrencies.

His support shows the growing impact of digital currencies in politics and is a dramatic and historic departure from his prior reservations.

“I will ensure that the future of crypto and the future of bitcoin will be made in the USA, not driven overseas,” Trump told the audience during his speech.

Trump was outspoken about his dislike of cryptocurrencies while he was president. He reportedly called Bitcoin a hoax and said, “I don’t like it because it’s another currency competing against the dollar.”

Trump promised during his address to defend the 50 million bitcoin owners in the country’s right to self-custody. According to the publication, his dedication follows rising concerns among Bitcoin aficionados, particularly following the arrest of engineers from Samourai wallet, a privacy-focused non-custodial Bitcoin wallet, in April.

Late last month, organizers for Trump’s 2024 campaign made history by announcing that the campaign will be the first in American history to accept cryptocurrency payments. This development is expected to boost fundraising efforts among supporters who are tech savvy.

“Today, President Trump’s campaign has launched a fundraising page that provides any federally permissible donor the ability to give – through its joint fundraising committees – using any cryptocurrency accepted through the Coinbase Commerce product,” the campaign announced.

“This addition to President Trump’s already groundbreaking digital fundraising operation marks the first time a major party Presidential nominee has embraced cryptocurrency for donations. Contribution limits and disclosure requirements for crypto donations will follow Federal Election Commission regulations,” the release continued.

“Starting today, people wanting to make federally permissible donations to the Trump campaign with crypto can do so at: https://www.donaldjtrump.com/crypto.”

According to the website, the former president takes eight various forms of virtual currency, such as USD Coin, XRP, and Bitcoin.

The website states, “We are pleased to offer you the opportunity to contribute to the campaign with cryptocurrency, demonstrating President Trump’s success as a champion of American freedom and innovation.”

Further, according to Trump’s cryptocurrency donation page, “Your support is necessary to save our nation from Biden’s failures.” W “Saving our nation from Biden’s failures requires your support. As Biden piles regulations and red tape on all of us, President Trump stands ready to embrace new technologies that will Make America Great Again.”

 

 

 

 

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