Donald Trump views Bitcoin as a valuable asset in the competition for AI supremacy
Former US President Donald Trump, known for his support of Bitcoin (BTC) miners and labeling them the “last line of defense” against a central bank digital currency (CBDC), seems to see even more potential in the original cryptocurrency.
During a private event at his Mar-a-Lago resort in Florida, attended by Bitcoin miners from companies like Riot Platforms (NASDAQ: RIOT), Marathon Digital Holdings (NASDAQ: MARA), Terawulf (NASDAQ: WULF), CleanSpark (NASDAQ: CLSK), Core Scientific (NASDAQ: CORZ), and others, Trump reportedly discussed Bitcoin’s role in helping the US stay ahead in the artificial intelligence (AI) arms race with China.
The meeting also included Bill Hagerty, a key figure in the Senate’s Banking Committee and Finance Subcommittee and a strong supporter of the crypto industry. The discussion touched on Bitcoin, energy, job creation, and strategies to outperform China in the AI arms race.
Jason Les, CEO of Riot Platforms, mentioned that Trump emphasized the importance of making Bitcoin a priority in the US. Jayson Browder, from Marathon Digital Holdings, highlighted Trump’s deep understanding of complex topics like AI, data centers, energy production, and transmission during the conversation.
CleanSpark’s executive chairman, Matthew Schultz, shared his admiration for Trump’s engagement with the Bitcoin industry and his desire to keep Bitcoin mining operations within the US borders, away from China.
After the event, Trump took to his Truth Social account to express his belief that Bitcoin mining could protect against the threat of a CBDC, which he sees as a danger to the US. He also criticized President Biden’s stance on Bitcoin, claiming it benefits other nations.
Trump’s interest in cryptocurrencies has been a focal point of his recent political campaign, with him accepting crypto donations and showing support for the industry. In contrast, the Bitcoin miners who met with him noted that President Biden had not been as receptive to their concerns.
As the crypto sector continues to evolve, AI is becoming a prominent theme, with tokens like Render (RNDR), Fetch.ai (FET), SingularityNET (AGIX), and Ocean Protocol (OCEAN) gaining popularity and value. Investors are profiting from these AI tokens, with one individual recently making an impressive $13 million or 345% return on their trades involving Render, often referred to as the “Nvidia of crypto.”