Presumptive 2024 Republican nominee Donald Trump on Wednesday said he wants all remaining bitcoin to be mined in the United States, weaponizing cryptocurrency as a fresh line of attack against President Joe Biden as the former president further embraces the digital sector after years of skepticism.
“We want all the remaining Bitcoin to be MADE IN THE USA!!!,” Trump said in a late night post to his social media platform Truth Social.
Trump warned bitcoin, which is obtained through a computational process known as mining, “may be our last line of defense against” a Central Bank Digital Currency (CBDC).
The ex-president has previously railed against the notion of a so-called “digital dollar” issued by the Federal Reserve — which the central bank has explored but not expressed a stance on either way — branding it a “dangerous threat to freedom” and vowing to block its creation if re-elected.
Mining remaining bitcoin in the U.S. will also help the country be “energy dominant,” Trump said in block capitals, though it is unclear what the former president meant by this given that bitcoin mining consumes, rather than produces, significant amounts of energy.
Trump also took aim at Biden, whose administration and Democrat supporters are largely viewed as skeptical or even hostile to the crypto industry.
He said Biden’s “hatred of Bitcoin” only serves to help U.S. enemies like China and Russia, as well as the “Radical Communist Left.”
Continue Reading…..Story by Robert Hart, Forbes Staff
