- Donald Trump has once again made public his support for Bitcoin and crypto.
- Trump promised to “end Joe Biden’s war on crypto.”
- The former president plans to make the U.S. a Bitcoin mining hub.
Former President Donald J. Trump is again leveraging cryptocurrency in his 2024 campaign, vowing to “end Joe Biden’s war on crypto” and ensure Bitcoin’s future is “made in America.”
This marks a notable shift for Trump, who has historically expressed skepticism about digital assets prior to his Presidential campaign.
Amid cheers from his supporters, Trump said:
“I will end Joe Biden’s war on crypto, and we will ensure that the future of Bitcoin will be made in America.”
Notably, the former president has utilized cryptocurrency as a new line of attack against incumbent President Joe Biden in his campaign for re-election. Trump has repeatedly declared an interest in crypto after years of skepticism.
The former president recently posted on the social media platform Truth that he wants all the remaining Bitcoin to be made in the U.S. For context, by being made in the U.S., Trump meant he wanted all the remaining Bitcoins to be mined in America.
According to Trump, Bitcoin mining may be the U.S.’ last defense against a central bank digital currency. He accused Biden of hating Bitcoin, claiming that such hatred only helps China, Russia, and the “radical left.” Trump believes that becoming the hub for Bitcoin mining would enable the U.S. to become “energy dominant.”
Trump claims how mining Bitcoin would benefit the U.S. energy sector and help fight its domestic enemies; though details of it are unclear. However, analysts believe the former president may be taking advantage of the perception that Biden’s administration is skeptical about cryptocurrencies.
Hence, Trump could be courting the growing population of crypto users to garner votes, the majority of whom are of the younger generation and crypto-inclined. The U.S. Presidential election is scheduled for later this year, with Trump presumed to be the leading Republican candidate expected to face the incumbent President Joe Biden.
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