(TargetLiberty.org) – On Wednesday, former President Donald Trump called for the United States to mine the remaining Bitcoin, a notable moment as he shifts his support for the industry.
Taking to Truth Social, Trump declared that he wanted “all remaining Bitcoin” to be mined in the USA, claiming it would make the U.S. “ENERGY DOMINANT!!!”
Trump suggested mining the cryptocurrency domestically could be the “last line of defense” against a central bank digital currency (CBDC).
China is currently leading the way with a CBDC, which is the world’s largest. Although it has the largest CBDC, China isn’t the only country pursuing a domestic digital currency.
Any hopes that the U.S. could catch up to other countries’ pursuit of a CBDC with a homegrown one were dashed last month with the passage of the bill by the lower Congressional chamber preventing the Federal Reserve from issuing a CBDC unless it had received Congress’s approval.
In his post to Truth Social, Trump also blasted President Joe Biden for his apparent “hatred of Bitcoin,” which the former President argued helps Russia, China, and the “Radical Communist Left.”
Since the cryptocurrency sector has been engulfed in controversy, the Biden administration has been careful when breaching the topic of cryptocurrency.
However, in 2022, Biden signed an executive order calling for government agencies to evaluate the rewards and risks related to cryptocurrency, particularly how it would affect financial stability, consumer protection, and illicit activity.
Trump’s own call for Bitcoin to be mined in the U.S. comes after the former President met with several leaders of Bitcoin mining companies at his estate in Mar-a-Lago on Tuesday.
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