Trump declares Bitcoin mining as the final defense against a CBDC
Following a meeting with several Bitcoin (BTC) miners at his Mar-a-Lago resort in Palm Beach, Florida, where he pledged support for Bitcoin mining if elected into the White House, former President of the United States, Donald Trump, shared more thoughts on the matter.
In a post on his Truth Social account on June 12, Trump expressed his belief that “Bitcoin mining may be our last line of defense against a CBDC,” referring to the central bank digital currency that many fear could threaten the nation’s economy.
CBDCs have become a contentious issue in US politics, with Congressman Tom Emmer cautioning that they could be a “CCP-style surveillance tool” aimed at “destroying the American way of life.” Emmer introduced the CBDC Anti-Surveillance State Act to address these concerns.
In January, Trump, a potential presidential candidate, vowed to never allow a CBDC if he were to return to the White House, emphasizing his commitment to protecting Americans from government overreach.
While countries worldwide are exploring CBDCs, with over 100 of them at various stages of research, development, or pilot programs as of last year, the European Central Bank announced progress on its digital euro project, despite concerns raised by ECB president Christine Lagarde regarding privacy.
As discussions around CBDCs continue to evolve globally, Trump’s stance on Bitcoin mining and CBDCs remains a topic of interest and debate in the financial and political spheres.
