Crypto Supporter Donald Trump Will Do His Best To Help Bitcoin Miners

Key Points:

• Crypto supporter Donald Trump promised to help with Bitcoin mining and promised advocacy if re-elected.
• Trump is leveraging cryptocurrency to attract new voters and now accepts crypto donations in his campaign.

According to a Bloomberg report, former U.S. President Donald Trump has voiced his support for Bitcoin mining.

Crypto Supporter Donald Trump Will Help Bitcoin Mining

During a Tuesday night meeting at his Mar-a-Lago estate, crypto supporter Donald Trump met with several Bitcoin miners, including Matthew Schultz, executive chairman of Bitcoin mining company CleanSpark Inc. Schultz reported that Trump expressed his understanding and support for cryptocurrency, noting that Bitcoin miners contribute to stabilizing the power grid. Trump assured attendees that he would advocate for them if he returned to the White House.

The meeting occurs amidst rising opposition to crypto mining, mainly due to concerns about climate change and the impact on local power grids. Democrats have pushed for increased scrutiny of Bitcoin miners’ energy consumption and carbon emissions. Conversely, Texas Senator Ted Cruz has emerged as a prominent industry supporter.

Trump’s Campaign Embraces Cryptocurrency to Attract New Voters

In recent weeks, crypto supporter Donald Trump has increasingly emphasized Bitcoin and other digital assets during his campaign trail to engage new voters. He has sought advice from notable figures like Elon Musk and pledged at a recent Libertarian Party convention to commute the sentence of Ross Ulbricht, the convicted founder of the Silk Road marketplace. His campaign now also accepts cryptocurrency donations.

Trump’s recent pro-crypto stance includes historically becoming the first U.S. President to accept donations. He has voiced his desire for the future of crypto to remain within the United States rather than being driven overseas due to stringent regulations. Additionally, he has pledged to support the right to self-custody for the nation’s 50 million crypto holders.

The crypto sector is also mobilizing support for candidates favourable to digital assets, with increased donations to political action committees like Fairshake. The industry faces significant challenges, but endorsements from influential figures like Trump potentially boost its political and public standing.