Make bitcoin mining stocks great again? Trump calls for US mining dominance

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As a seasoned crypto investor with a keen interest in geopolitics and market trends, I find Trump’s recent comments on Bitcoin mining particularly intriguing. The potential for the United States to dominate this sector is an exciting prospect that could significantly impact the industry.

On Tuesday, Donald Trump made known his intentions to claim dominance over Bitcoin mining in the US due to our significant potential in the energy sector.

In a late-night post on Truth Social, the GOP presidential candidate expressed the idea that Bitcoin mining could represent the final safeguard for the United States against a Central Bank Digital Currency (CBDC).

As a crypto investor, I observed an impressive rally in Bitcoin mining stocks on Wednesday. TeraWulf (WULF) experienced a significant surge, reaching almost a 20% increase at its peak, eventually settling for a 10% gain by the end of trading. Hut 8 Corp (HUT) followed suit with a 10% boost, while Riot Platforms (RIOT) saw a 6.5% rise and CleanSpark (CLSK) gained over 8.15%. These positive developments in the mining stocks sector are an encouraging sign for investors like myself.

Trump and crypto

As a crypto investor, I’m excited to note that Trump is the trailblazing U.S. presidential candidate embracing cryptocurrency donations for his campaign. His vocal advocacy for digital currencies has caught my attention. On June 11th, during a meeting with bitcoin mining companies at Mar-a-Lago, I understand he underscored the significance of miners in maintaining grid stability.

Trump’s advocacy for cryptocurrencies earns him the moniker of “Bitcoin Champion.” He’s working to promote mining within the US, utilizing local assets instead of relying on major Bitcoin mining hubs like Central Asia, El Salvador, or certain European nations.

The cost of a Bitcoin unit exceeded $69,000 for the first time yesterday following the release of the US inflation data on Wednesday, which came in under estimates.

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2024-06-13 00:30