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Trump Advocates for Bitcoin to Be ‘Forged in America’

Last Updated: June 15, 2024By

Republican presidential contender Donald Trump declared on Tuesday his desire for all residual bitcoin to be produced within the United States, emphasizing that this move would contribute to the nation’s quest for energy supremacy.

“Bitcoin mining might be our ultimate bulwark against a Central Bank Digital Currency (CBDC). Biden’s disdain for Bitcoin only serves the interests of China, Russia, and the Radical Communist Left. We desire all remaining Bitcoin to be FORGED IN AMERICA!!! This will propel us towards ENERGY SUPREMACY,” Trump articulated in a nocturnal proclamation on Truth Social.

Trump’s pronouncement ostensibly suggests a preference for increased bitcoin mining by American enterprises utilizing domestic resources. Presently, prominent mining hubs include China, several Central Asian nations, El Salvador, and European countries such as Germany.

Earlier on Tuesday, Trump, the pioneer U.S. presidential candidate to embrace crypto contributions, convened with leaders from the Nasdaq-listed bitcoin mining firms CleanSpark Inc. and Riot Platforms. At the Mar-a-Lago gathering, the former President reportedly extolled the miners for their role in stabilizing the electrical grid’s energy supply.

Bitcoin’s supply is limited to 21 million, slated to be completely mined by 2140, as per Coingecko. Currently, 90% of this finite supply has already been mined.

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About the Author: Eunji Lim

Eunji lim

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