FacebookTwitterLinkedInTelegramCopy LinkEmail

Trump Holds Talks with Bitcoin Miners, Backs Crypto Sector

Trump Holds Talks with Bitcoin Miners, Backs Crypto Sector

Mattew Schultz, who is the executive chairman at CleanSpark, a crypto mining firm, said on Tuesday night that some Bitcoin miners met with former President Donald Trump at Mar-a-Lago.

He revealed that Trump has expressed his sympathy for digital money systems and pointed out the role of these miners in stabilizing the energy grid through their operations. Schultz also disclosed that should Trump go back to the White House, he will push for the rights of people who engage in mining activities.

In a post made via Truth Social, Trump stressed mining of BTC as a way to counter the planned CBDC while calling for Bitcoin production to be done only in America. There was no immediate response from the representatives of Trump Campaign to comment about his remarks.

More Emphasis on Crypto

To attract new voters, Trump has been extensively talking about the use and investment in Bitcoin during his campaigns. At one point he even sought advice from Elon Musk before promising at a convention held by the Libertarial Party that if elected as president he would pardon Ross Ulbricht who founded Silk Road market place.

READ MORE: Robert Kiyosaki: Bitcoin the Easiest Route to Millionaire Status?

Additionally his campaign team accepts donations through cryptocurrencies. Another person who attended the meeting at Mar-a-Lago is Jason Les CEO of Riot Platforms.

Challenges Faced by The Industry And Its Political Support

This comes at a time when Bitcoin miners are under fire for their negative impact on the environment and strain they exert on local power grids. While Democrats are intensifying efforts to regulate energy use and emissions among these players, Texas Senator Ted Cruz has emerged as one of the most vocal champions of such businesses .

Political donations from crypto sector also continue to grow with Fairshake PAC being used as a vehicle for channeling funds into campaigns of politicians who support industry friendly legislations.

After China banned Bitcoin mining in 2021, the United States took over as the leading global center for this industry. When miners utilize energy-intensive computers to approve transactions on the Bitcoin blockchain, they get paid in tokens which is called mining.

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.

Learn more about crypto and blockchain technology.