In a move reflecting the growing excitement around pro-Bitcoin leadership, MARA Holdings has embedded an AI-generated portrait of Donald Trump on the Bitcoin blockchain. The “Trump 47” block, mined on January 17, was announced by MARA’s chairman and CEO Fred Thiel on the social media platform X. Thiel described the initiative as a tribute to President-elect Trump’s support for Bitcoin and the crypto industry.
Trump’s favorable stance on cryptocurrency became apparent last June when a group of industry leaders presented a vision to make the United States the global hub for Bitcoin mining. Following the meeting, Trump pledged to ensure that future Bitcoin production would be “made in the USA.”
Jason Les, CEO of Riot Platforms, referred to his meeting with Trump as “very productive,” particularly regarding Bitcoin and strengthening U.S. energy independence.
The growing optimism has even influenced corporate strategies. Hive Digital recently relocated its headquarters from Vancouver, Canada, to Texas, citing Trump’s election as a driving factor. The move places Hive alongside other prominent mining companies such as MARA, Riot Platforms, and Bitdeer in Texas—a state emerging as a significant hub for Bitcoin mining.
In a public statement, Hive Digital praised Trump’s commitment to policies aimed at reducing energy costs and making the U.S. the most competitive environment for Bitcoin miners.
A Genuine Shift or Political Theater?
Trump’s evolving views on cryptocurrency have been a hot topic. The president-elect’s current pro-Bitcoin stance marks a stark departure from his earlier criticism of the cryptocurrency as a “scam” in 2021. Recent actions, however, suggest that his campaign promises may have substance.
In December, Trump revealed plans to nominate Paul Atkins, a pro-crypto advocate, as chair of the Securities and Exchange Commission. He also appointed David Sacks, former COO of PayPal, as the White House’s “AI and crypto czar.”
There are also whispers that Trump may replace the Commodity Futures Trading Commission’s leadership with a crypto-friendly figure. Summer Mersinger, a current commissioner, is reportedly a candidate for the top position.
The possibility of the U.S. creating a strategic Bitcoin reserve has also sparked debate. Senator Cynthia Lummis introduced the BITCOIN Act of 2024, which proposes that the Treasury acquire 1 million BTC over five years. While some, such as Strike CEO Jack Mallers, believe Trump might establish such a reserve on his first day in office, others remain skeptical. Galaxy Digital’s CEO, Mike Novogratz, has expressed doubts about such a bold move.
As Trump prepares to take office, the crypto community waits to see whether these developments will lead to a more favorable landscape for Bitcoin mining and adoption in the U.S.
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