US Presidential Candidate Donald Trump Met with Bitcoin Miners, What’s Cooking?
Former US President Donald Trump is taking every possible step to influence the crypto community and is reaching out to all participants in the crypto industry. In the latest outreach, Trump met with several Bitcoin miners at Mar-a-Lago on Tuesday. Some of the popular names from the Bitcoin mining industry who met Trump included Matthew Schultz, executive chairman of crypto mining company CleanSpark Inc.
Donald Trump Praises Bitcoin Miners
According to Schultz, at a recent event, former President Donald Trump also expressed his support for cryptocurrency, stating that he loves and understands digital assets and highlighted how Bitcoin miners contribute to stabilizing the energy grid. Trump has vowed to defend miners if he returns to the White House.
Trump, who recently declared himself the Crypto President, has increasingly focused on Bitcoin and other digital assets during his campaign aimed at attracting new voters. He took advice from Elon Musk and, at a recent Libertarian Party convention, pledged to commute the sentence of Ross Ulbricht, the convicted founder of the Silk Road online marketplace. His campaign also now accepts cryptocurrency donations.
Jason Les, CEO and director of Riot Platforms Inc., also met with Trump at Mar-a-Lago, according to a post on X. This meeting comes at a time when Bitcoin miners are facing a major backlash from the Biden administration on climate change issues. and the impact on the local power grid. As a result, Democrats are increasing scrutiny to monitor the carbon emissions and energy consumption of Bitcoin miners.
BTC Miners Will Thrive Under Trump
The US has become the epicenter of Bitcoin mining since China imposed a ban on the industry in 2021. This energy-intensive process involves using power-hungry computers to verify encrypted transactions on the Bitcoin blockchain, earning rewards in the form of tokens.
Donald Trump wrote the following message on his social media platform Truth Social: “VOTE FOR TRUMP! . Biden’s hatred of Bitcoin only benefits China, Russia, and the Radical Communist Left. We want all remaining Bitcoin to be MADE IN THE USA!!! It will help us become ENERGY DOMINANT!!!”
Recently, Bitcoin price has also come under selling pressure ahead of Wednesday’s FOMC meeting. According to on-chain data, there is strong Bitcoin miner capitulation leading to BTC price decline.
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
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