Donald Trump, the Republican presidential candidate, has expressed his desire to have all remaining Bitcoin mined within the United States. He believes that this would help the country become energy-dominant and serve as a defense against Central Bank Digital Currencies (CBDCs).
Trump's stance on Bitcoin is rooted in his perception that it could be a crucial line of defense against CBDCs, which he sees as a threat to American energy independence. He has criticized President Biden for his perceived opposition to Bitcoin, stating that Biden's disdain for Bitcoin only benefits China, Russia, and the Radical Left.
Trump's call for increased Bitcoin mining within the U.S. could potentially lead to more involvement of American companies in the mining process, utilizing domestic resources. Currently, major mining hotspots are primarily located in China, Central Asian countries, El Salvador, and European nations like Germany.
Trump has also met with executives from Nasdaq-listed Bitcoin mining firms CleanSpark Inc. and Riot Platforms, emphasizing the role miners play in stabilizing the grid's energy supply. He has also expressed concerns over the U.S. launching a CBDC, which could grant the government greater access to personal spending data, and sees Bitcoin as the antithesis of a CBDC due to its censorship-resistant and borderless nature.
Overall, Trump's proposal aims to promote American energy independence and counterbalance the influence of foreign powers in the global cryptocurrency market.