US President Donald Trump at the Bitcoin event in Nashville $95,362.8 He attracted attention with the statements he made at the conference. While emphasizing his support for the cryptocurrency market, Trump vowed to create a national Bitcoin reserve and demand the resignation of Securities and Exchange Commission (SEC) Chairman Gary Gensler. “We will achieve great things with cryptocurrencies,” said Trump, adding that the USA should be a leader in this field.
Aims to Expand Mining Activities in the USA
Donald Trump stated that Bitcoin mining should be concentrated within the borders of the USA. In his speech at the conference, he stated that he would support the industry with the vision of “Bitcoin produced in the USA”. However, experts warn that this goal is not feasible. It is stated that the share of US-based miners in global Bitcoin mining activities is less than 50 percent.
Synteq Digital CEO Taras Kulyk evaluated the situation with the following words: “We are seeing a major mining rejuvenation in regions such as Asia, Africa and the Middle East. “The United States needs much more to regain leadership in the industry.” However, low energy costs in Africa and developing infrastructure in the region give mining activities a competitive advantage over the United States.
Bitcoin Continues to Gain Value
Positive expectations about Trump’s re-election chances created an upward movement in Bitcoin prices. Trump’s supportive statements strengthened the optimistic atmosphere in the cryptocurrency market. However, the price increase has lost momentum in recent weeks.
Trump used the following statement at the conference: “The USA will not let anyone down on cryptocurrency. “We will be great leaders again.” Cryptocurrency industry representatives stated that these statements are a signal from the USA to take more responsibility in the industry. Industry experts expect these steps to have positive impacts for 2025 and beyond.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
