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Donald Trump’s support for Bitcoin mining sparks excitement in the industry
Donald Trump, the main contender for the Republican presidential nomination, has promised to support bitcoin miners and underlined his pro-crypto stance, which would be a decisive factor in the upcoming elections.
The former president revealed this endorsement during a meeting Tuesday at his Mar-a-Lago estate, attended by many prominent BTC miners, Bloomberg reported. Trump promised that he would support it bitcoin mining if he wins the election and returns to the White House, and highlighted the important role bitcoin miners play in contributing to the stability of the energy grid, a statement released by industry leaders.
Industry leaders applaud Trump’s embrace of cryptocurrencies
Representatives from major bitcoin mining companies CleanSpark Inc. and Riot Platforms attended the meeting at Trump’s resort in Palm Beach. However, the discussion wasn’t limited to closed doors, as several attendees shared their excitement on social media.
S. Matthew Schultz, co-founder of CleanSpark, posted a photo with Donald Trump and praised his support of their efforts in states like Georgia, Mississippi and Wyoming. Furthermore, Trump’s pro-bitcoin stance has shaken support from the crypto community, as seen in a recent fundraising event in Silicon Valley, which raised $12 million and featured notable figures such as Cameron and Tyler Winklevoss.
Biden Administration Reconsiders Crypto Policies
As the countdown to November’s presidential election begins, Trump’s bold approach to bitcoin mining may become a major issue and a decisive factor for the final result of the elections. Furthermore, this invites further debate about what the future of cryptocurrencies is in the US political sphere.
On the contrary, it appears that the current administration is now re-evaluating its approach to cryptocurrencies. According to sources, President Joe Biden’s reelection campaign is currently seeking advice on digital asset policies from various industry leaders, which highlights a potential shift from their previous anti-crypto stance.
Also, check out: A look at Donald Trump’s SHOCKING $32 million cryptocurrency portfolio