Bitcoin
Make Bitcoin Mining Stocks Great Again? Trump calls for mining dominance in the US
Donald Trump announced on Tuesday that he wants all the remaining bitcoins (Bitcoin) mined in the United States, citing the country’s potential to dominate the energy sector.
In a late-night post on Truth Social, the Republican presidential candidate expressed the feeling that Bitcoin mining could be the country’s last line of defense against a Central Bank digital currency (CBD.)
Due to these comments, Bitcoin mining stocks had a great day on the markets on Wednesday. TeraWulf (WULFO) jumped nearly 20% at one point and settled into intraday gains of 10%. Hut 8 Corp (CABIN) gained 10%, Riot Platforms (REBELLION) gained 6.5%, and CleanSpark (CLSK) gained more than 8.15% at market close.
Trump and crypto
Trump is the first US presidential candidate to accept payments in cryptocurrencies for his campaign, and he has been outspoken about his support cryptography. On June 11 he met with bitcoin mining companies at Mar-a-Lago and supposedly emphasized that bitcoin miners contribute to stabilizing the electrical grid.
from Trump feeling as “the president of crypto” led him to push for domestic bitcoin mining, taking advantage of local resources. Currently, prominent Bitcoin mining locations include Central Asia, El Salvador, and some European countries.
Bitcoin price surpassed $69,000 today after a US inflation report on Wednesday showed lower-than-expected numbers.