Cryptocurrencies
Trump’s ‘Made in USA’ Bitcoin Is Promise Impossible to Keep
- The vast majority of Bitcoin is being minted outside the US
- Miners in UAE, Russia and Africa are building out more sites
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As Donald Trump prepares to fulfill a lengthy list of campaign promises, the president-elect’s vow to ensure that all remaining Bitcoin is “made in the USA” may prove to be one of the most challenging to keep.
Trump made the pledge in a post on his Truth Social account in June after meeting at Mar-a-Lago with a group of executives from crypto miners, the companies whose massive, high-tech data centers do the work that facilitates transactions on the blockchain in exchange for compensation paid in Bitcoin or other cryptocurrencies. The gathering was a key juncture in Trump’s transformation from a crypto skeptic to one of the industry’s strongest allies.