Donald Trump’s Bitcoin Dream: A Made-in-USA Crypto Utopia?
Donald Trump, the former President of the United States, has recently expressed his desire to see all remaining Bitcoin mined in the USA. This bold statement has sparked a heated debate in the crypto community, with some hailing it as a revolutionary move, while others dismiss it as a mere publicity stunt.
Trump’s Vision for a Bitcoin Utopia
In a late-night post on Truth Social, Trump declared, “Bitcoin mining may be our last line of defense against a central bank digital currency (CBDC). Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT.” This statement has left many wondering what exactly Trump means by “ENERGY DOMINANT” and how he plans to achieve this ambitious goal.
A Bitcoin mining rig in action
The Current State of Bitcoin Mining
Currently, the majority of Bitcoin mining takes place in countries like China, Central Asia, El Salvador, and some European nations. According to Coingecko, 90% of the total Bitcoin supply has already been mined, with the remaining 10% expected to be mined by 2140. Trump’s plan to shift the mining process to the USA raises questions about the feasibility and potential consequences of such a move.
Current Bitcoin mining hotspots around the world
A Meeting of Minds
Earlier this week, Trump met with executives from CleanSpark Inc. and Riot Platforms, two prominent Bitcoin mining firms listed on Nasdaq. During the meeting, Trump reportedly emphasized the importance of miners in stabilizing the grid’s energy supply. This encounter has sparked speculation about potential collaborations between Trump’s administration and these companies.
Trump meets with executives from CleanSpark Inc. and Riot Platforms
The Road Ahead
As the crypto community continues to debate the implications of Trump’s statement, one thing is certain – the former President’s vision for a Made-in-USA Bitcoin utopia has sparked a lively conversation about the future of cryptocurrency. Will Trump’s plan come to fruition, or will it remain a pipe dream? Only time will tell.
The future of Bitcoin hangs in the balance
