Expect 2024 topline On Wednesday, Republican frontrunner Donald Trump said he wanted all remaining bitcoin mined in the US, using cryptocurrencies to attack President Joe Biden as the former president embraces the digital sector after years of mistrust.
Trump said on Truth Social late at night, "We want all the remaining Bitcoin to be MADE IN THE USA!!!"
Trump said bitcoin, mined by computers, “may be our last line of defense against” a Central Bank Digital Currency.
The former president labeled the Federal Reserve's "digital dollar" a “dangerous threat to freedom” and promised to veto its formation if re-elected.
Trump asserted in block capitals that mining remaining bitcoin in the U.S. will help the country be “energy dominant,” yet bitcoin mining consumes, not produces, energy.
Trump also targeted Biden, whose administration and Democrats are dubious or hostile to crypto. He added Biden's “hatred of Bitcoin” helps China, Russia, and the “Radical Communist Left.”
Trump's claims that bitcoin will protect against a central digital currency, that mining will help the U.S. become “energy dominant” and that embracing bitcoin will aid the U.S. against its internal and foreign foes are ambiguous.
Adopting cryptocurrency may not discourage the Fed from creating a digital U.S. currency, and it may even push it to move faster. Trump may be referring to energy dominance regulations rather than cryptocurrency mining energy.