The elected President of the United States, Donald Trump, has a series of campaign promises, one of which is quite controversial: to ensure that all remaining bitcoins are &#34;Made in America.&#34; However, this promise may be one of the most difficult goals to achieve.
The total supply of Bitcoin is set at 21 million coins, which is one of its core design features. Currently, about 95% of bitcoins have been mined. However, despite most bitcoins already being mined, it will take approximately another 100 years to reach the final cap of 21 million.
In June of this year, Trump posted on social media stating that he plans to make Bitcoin completely &#34;Made in America.&#34; This promise was made after Trump met with executives from several cryptocurrency mining companies that operate large data centers responsible for facilitating transactions on the blockchain and earning cryptocurrencies like Bitcoin in return. This meeting also marked a significant shift in Trump's stance from a skeptic of cryptocurrency to a supporter of the industry.
U.S. miners such as CleanSpark and Riot Platforms quickly supported Trump, hoping he would ease scrutiny on the environmental impact of high-energy processes, curb competition from overseas, and revoke the restrictive guidelines of the Biden administration. Trump's support for cryptocurrency helped him raise about $135 million in campaign donations, more than any other industry.
However, industry insiders generally believe that Trump's promise is more symbolic support for the cryptocurrency industry and is nearly impossible to achieve in practical terms:
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The blockchain is a decentralized network that cannot be fully controlled or prohibited from participation by any one party. Currently, the participants in the global mining market are extremely dispersed.
The Bitcoin mining industry in the U.S. has rapidly developed in recent years, becoming a multi-billion dollar industry, but according to analysis, the computing power of domestic miners in the U.S. is still far below half of the global total. Therefore, it is nearly impossible for the entire Bitcoin network to be supported solely by American companies.
The global cryptocurrency mining industry is becoming increasingly competitive, with large-scale operations emerging worldwide to share in this pie. Russian oligarchs and the Dubai royal family are among the latest participants to enter the space.
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Although there is no public data to accurately delineate the sources of computing power from different regions globally, large cryptocurrency mining service providers like Luxor often have a good understanding of the composition of computing power. They obtain more specific information about mining locations through software that aggregates computing power, thereby increasing miners' chances of earning Bitcoin rewards.
As U.S. mining rapidly expands amid a bull market in the cryptocurrency space, coupled with U.S. economic sanctions and worsening inflation in some emerging economies, these factors have prompted overseas miners to further increase their mining operations, leading to intense overall market competition:
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Kazakhstan has seen a significant rise in mining demand due to lower energy costs.
Russia's relaxed stance on cryptocurrency has also stimulated the revival of its cryptocurrency industry.
Countries rich in hydro resources, such as Ethiopia, have become the fastest-growing cryptocurrency mining centers in Africa, where Bitcoin mining profits are much higher than those of their American counterparts
In countries with severe inflation like Argentina, dollar-denominated mining income provides local miners with an opportunity to hedge against inflation.
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Some U.S. miners have also chosen to expand overseas due to rising energy costs. For example, the largest mining company by market capitalization, MARA, announced a joint venture with a local sovereign fund to establish a factory in Abu Dhabi, aiming to create one of the largest mining centers in the Middle East.
Additionally, it is worth mentioning that Trump's policies may pose challenges for U.S. miners, as his trade policies could lead to increased costs for Bitcoin mining equipment. For miners, electricity and equipment are the two largest expenses.
Nevertheless, industry insiders generally believe that Trump's impact on the cryptocurrency sector is more beneficial than harmful. Taras Kulyk, CEO of Synteq Digital, stated that Trump might be the best thing for Bitcoin mining, as he supports energy and economic growth.
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GBTC

Trump promises to ensure that Bitcoin achieves "Made in America," but this goal is considered nearly impossible. The total supply of Bitcoin is 21 million, with 95% already mined, and the remaining portion will take about 100 years to complete. Although Trump has gained support from the cryptocurrency industry and raised a significant amount of campaign funds, the decentralized nature of blockchain and fierce global competition mean that American miners' computing power is still insufficient to support the entire Bitcoin network

- The article discusses President Trump's controversial campaign promise to ensure all remaining Bitcoin is "Made in America," despite the challenges posed by Bitcoin's decentralized nature and global mining competition.  
- While U.S. Bitcoin mining has grown into a billion-dollar industry, American miners still hold less than half of the global hash rate, making it nearly impossible to support the entire Bitcoin network solely with U.S. companies.  
- Despite potential challenges from Trump's policies, industry experts believe his support could benefit the cryptocurrency sector, as it has already helped raise significant campaign funds.

Trump's Bitcoin "Made in America": Ambitious but Doomed to Fail