Former US President Donald Trump is reaching out to all industry contributors and is doing everything he can to influence the cryptocurrency community. As part of his most recent outreach, Trump met with a number of Bitcoin miners on Tuesday at Mar-a-Lago. Popular figures from the Bitcoin mining sector, such as Matthew Schultz, executive chairman of CleanSpark Inc., a cryptocurrency mining company, met with Trump.
President Trump Applauds Bitcoin Miners
According to Schultz, during a recent event, former President Donald Trump also endorsed cryptocurrencies, saying he loves and understands digital assets and emphasized how Bitcoin miners help stabilize the electrical system. If Trump wins the presidency, he promised to stand up for miners’ rights.
To draw in more supporters, Trump, who recently dubbed himself the “Crypto President,” has increased his attention during the campaign on Bitcoin and other digital assets. Elon Musk has advised him, and during a recent convention of the Libertarian Party, he pledged to reduce Ross Ulbricht’s sentence. Ulbricht is the convicted creator of the Silk Road internet bazaar. Furthermore, donations in cryptocurrencies are now being accepted for his campaign.
A post on X states that Trump also met with Riot Platforms Inc.’s CEO and director, Jason Les, at Mar-a-Lago. This conference takes place at a time when the Biden administration has been severely criticizing Bitcoin miners over concerns about climate change and its effects on local power systems. Democrats have, therefore, started keeping a closer eye on Bitcoin miners’ energy and carbon emissions.
Bitcoin Miners Will Prosper Under Trump
The US has emerged as the hub for Bitcoin mining after China imposed an industry ban in 2021. Using power-hungry machines, this energy-intensive process verifies encrypted transactions on the Bitcoin blockchain in exchange for tokens, the process’s reward.
VOTE FOR TRUMP! Donald Trump posted a message on his social media account, Truth Social. Biden’s distaste for Bitcoin serves the interests of the radical communist left, China, and Russia. The remaining Bitcoin should all be produced in the United States! It will enable us to control the energy market!
There has also been pressure to sell Bitcoin recently ahead of the FOMC meeting on Wednesday. On-chain data indicates that significant Bitcoin miner capitulation is to blame for the decline in the price of BTC.
