- 1 Bitcoin miners met the presidential candidate, Donald Trump, at his Mar-a-Lago estate.
- 2 Trump’s understanding and appreciation for cryptocurrencies make him a ‘Crypto-President.’
- 3 The former president expects Bitcoin mining to be crucial to beating central bank digital currency.
On June 11, former US president Donald Trump met with several Bitcoin (BTC) miners, including Matthew Schultz, executive chairman of the crypto mining company CleanSpark Inc. The Presidential candidate appeared optimistic about cryptocurrencies and highlighted BTC mining as a key weapon against central bank digital currency (CBDC).
Donald Trump is Bullish on Bitcoin
On Tuesday at Mar-a-Lago estate, Trump organized a meeting with BTC mining giants to highlight the growth of cryptocurrencies in the US market. Donald Trump uncovered the growing interest in digital assets and his passion for the crypto industry.
At the time of writing, BTC was trading at $67,966.06, after an intraday surge of 1.66% with a market cap of $1,339,621,154,789 and $28,014,039,528 in 24-hour volume.
Today was a historic moment in our journey towards hyperbitcoinization. The former and next President of the United States gathered America’s hashrate and committed to championing our cause in DC and on the global stage. Bitcoin will THRIVE in
— David Bailey $0.65mm/btc is the floor (@DavidFBailey) June 12, 2024
Orange Man+Orange Coin= Good pic.twitter.com/YhfzoJg19g
David Bailey posted on X that Trump demonstrated his in-depth understanding of cryptocurrencies and the role of BTC miners in stabilizing the energy supply.
“All remaining Bitcoin should be “MADE IN THE USA!!!” Trump added while addressing CBDC as a major threat to freedom.
Trump is optimistic about cryptocurrencies and BTC miners. He promised to support the miners if elected as President.
$12 Million in Presidential Campaign
In May 2024, Trump announced his acceptance of cryptocurrencies like BTC, Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), Solana (SOL), etc. for the election campaign.
On June 6, the prominent presidential candidate collected over $12 Million from his campaign at a San Francisco tech fundraiser which was organized by tech venture capitalists David Sacks and Chamath Palihapitiya.
Several crypto giants, like Coinbase executives and the Winklevoss twins, also attended the event. Moreover, he declared himself a ‘Crypto President’ by commenting on Joe Biden and Gary Gensler.
Notably, prominent presidential candidates like Biden and Robert F. Kennedy Jr. (RFK) have also developed positive views on crypto.
What About Other Players?
Joe Biden, one of Donald Trump’s strongest competitors and a big-time opponent of cryptocurrencies, has now changed his mind. In May, Biden initiated interaction with the crypto industry to strengthen his roots in the respective sector.
The presidential candidate is getting involved in crypto-related issues and their impact on the presidential race. Furthermore, Robert F. Kennedy Jr. is also in love with digital assets and advanced technologies.
Transferring the US budget to blockchain technology and ending the hostile crypto policies in the US market are the two main aims of RFK.
The indulgence of cryptocurrencies and memecoins in political agendas pumped prices of many of the PolitiFi tokens, including MAGA (TRUMP), Super Trump (STRUMP), etc.
According to CoinMarketCap, the PolitiFi tokens are indicating a bullish trend. MAGA coin was trading at $13.13 after a 3.40% surge in a day, and STRUMP was hovering at $0.021 after an intraday spike of $0.021.
Disclaimer
The analysis given above is for informational and educational purposes only. You should not take it as financial, investment, or other advice. Investing in or trading crypto assets is risky. Please consider your circumstances and risk profile before making any investment decisions.
