Donald Trump’s Bitcoin Mining Endorsement Sparks Industry Excitement
The post Donald Trump’s Bitcoin Mining Endorsement Sparks Industry Excitement appeared first on Coinpedia Fintech News
Donald Trump, the leading contender for the Republican presidential nomination, has promised to support bitcoin miners, and highlighted his pro-crypto stance, which would be a deciding factor for the upcoming election.
According to Bloomberg reports, the former president revealed this endorsement during a meeting on Tuesday at his Mar-a-Lago estate, in the presence of many significant BTC miners. Trump promised that he would advocate for bitcoin mining if he wins the election and returns to the White House, and highlighted the important role played by bitcoin miners in contributing to the stability of the energy grid, a statement given by industry leaders.
Industry Leaders Applaud Trump’s Crypto Acceptance
Representatives from major bitcoin mining companies—CleanSpark Inc. and Riot Platforms—attended the meeting at Trump’s Palm Beach resort. However, the discussion was not limited to closed doors, as several participants shared their enthusiasm on social media.
S. Matthew Schultz, the co-founder of CleanSpark, posted a picture with Donald Trump and praised his support for their efforts in states like Georgia, Mississippi, and Wyoming. In addition, Trump’s pro-bitcoin stance jolted the crypto community’s support, as seen in a recent fundraising event in Silicon Valley, which raised $12 million and was attended by important figures like Cameron and Tyler Winklevoss.
Biden Administration Reconsiders Crypto Policies
As the countdown begins for the November Presidential election, this bold approach of Trump towards bitcoin mining can become a major issue and a deciding factor for the final election result. Moreover, this invites further debates on what is the future of cryptocurrencies in the U.S. political sphere.
In contrast, it seems that the current administration is now reassessing its take on cryptocurrencies. According to sources, President Joe Biden’s campaign of re-election is currently seeking advice on the policies of digital assets from various industry leaders, which brings to light a potential shift from their previous anti-crypto stance.
Also, Check Out: A Look Into Donald Trump’s SHOCKING $32 Million Crypto Portfolio
