Donald Trump announced on Tuesday his intention for all remaining Bitcoin (BTC) to be mined in the United States, highlighting the country’s potential to dominate the energy sector.

In a late-night post on Truth Social, the Republican presidential candidate shared his view that Bitcoin mining could be the nation’s last defense against a Central Bank Digital Currency (CBDC).

Following these remarks, Bitcoin mining stocks experienced significant gains on Wednesday. TeraWulf (WULF) surged by nearly 20% at one point, settling into 10% intraday gains. Hut 8 Corp (HUT) climbed 10%, Riot Platforms (RIOT) increased by 6.5%, and CleanSpark (CLSK) saw an 8.15% rise by market close.

Trump and Cryptocurrency

Trump is the first U.S. presidential candidate to accept cryptocurrency payments for his campaign, and he’s been vocal about his support for crypto. On June 11, he met with Bitcoin mining firms at Mar-a-Lago, emphasizing that Bitcoin miners play a role in stabilizing the electricity grid.

Trump’s stance as “the crypto president” has led him to advocate for domestic Bitcoin mining, leveraging local resources. Currently, prominent Bitcoin mining locations include Central Asia, El Salvador, and some European countries.

Bitcoin’s price surged past $69,000 today after a U.S. inflation report on Wednesday revealed lower-than-expected figures.

For more updates on cryptocurrency, investing, and finance, keep exploring Global Crypto News.

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