Donald Trump views Bitcoin as a valuable asset in the race to dominate artificial intelligence
Former President Donald Trump, in addition to showing support for Bitcoin (BTC) miners and referring to them as the “last line of defense” against a central bank digital currency (CBDC), believes that the pioneering cryptocurrency offers even more advantages. During a closed-door meeting with Bitcoin miners at his Mar-a-Lago resort in Palm Beach, Florida, Trump expressed his belief that Bitcoin could help the United States win the artificial intelligence (AI) arms race against China, as reported on June 13.
Representatives from Riot Platforms (NASDAQ: RIOT), Marathon Digital Holdings (NASDAQ: MARA), Terawulf (NASDAQ: WULF), CleanSpark (NASDAQ: CLSK), Core Scientific (NASDAQ: CORZ), and other companies engaged in discussions with Trump. Riot CEO Jason Les revealed that making Bitcoin a priority in the US was a key topic of conversation.
Bill Hagerty, a prominent member of the Senate’s Banking Committee and Finance Subcommittee and a staunch supporter of the crypto industry, guided the discussion towards Bitcoin, energy, job creation, and strategies to outperform China in the AI arms race. Jayson Browder, senior vice president of Government Affairs at Marathon Digital Holdings, noted Trump’s deep understanding of complex topics such as artificial intelligence, data centers, energy production, and transmission.
Matthew Schultz, executive chairman and director of CleanSpark, emphasized Trump’s desire to keep Bitcoin mining operations within the US and away from China. Trump’s commitment to the Bitcoin industry and his grasp of mining processes were praised by attendees.
Following the meeting, Trump took to his Truth Social account to highlight the importance of Bitcoin mining as a defense against CBDCs and criticized President Biden’s stance on Bitcoin. Trump emphasized the need for Bitcoin mining to be based in the US to enhance energy independence.
Trump has made cryptocurrency a focal point of his presidential campaign, supporting the industry and accepting crypto donations. In contrast, Bitcoin miners noted that President Biden had shown less interest in engaging with them.
As AI gains prominence in the crypto sector, tokens like Render (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) are becoming more popular and profitable. One investor recently earned a substantial profit of $13 million, or 345%, from their trades involving Render, a token often referred to as the “Nvidia of crypto.”
