MARA’s ‘Trump 47’ block highlights anticipation for pro-Bitcoin president

Mining company MARA Holdings has embedded an AI portrait of Donald Trump on the Bitcoin blockchain, highlighting the industry’s growing anticipation of America’s first allegedly pro-crypto president. 

The so-called “Trump 47” block was mined by MARA on Jan. 17, chairman and CEO Fred Thiel said on the X social media platform. The move was intended to “honor” President-elect Trump for supporting Bitcoin (BTC), Thiel said.

Trump’s pro-miner stance came to light in June after a coalition of industry executives pitched him the idea of making America the Bitcoin mining capital of the world. Since then, he has promised to ensure that all remaining coins are “made in the USA.” 

Riot Platforms CEO Jason Les said at the time that he had a “very good meeting with President Trump on Bitcoin and US energy dominance.”

Mining company Hive Digital cited Trump’s presidential election victory for its recent decision to shift headquarters from Vancouver, Canada to Texas, where it joins MARA, Riot Platforms and Bitdeer, among others.

Trump has vowed to make America “a safer and more attractive place for Bitcoin miners by implementing policies to ensure the US has the cheapest energy globally,” Hive said in a statement. 

Related: US crypto execs express hope for regulatory clarity in 2025

Gimmick or real anticipation? 

Trump’s campaign rhetoric has come a long way since calling Bitcoin a scam against the dollar in 2021. However, if recent moves are any indication, the president-elect seems poised to follow through on many of his pro-crypto promises. 

On Dec. 4, Trump announced he would nominate the pro-crypto Paul Atkins to chair the Securities and Exchange Commission. The same week, he gave ex-PayPal chief operating officer David Sacks the title of White House “AI and crypto czar.”

As Cointelegraph reported, Trump may be lining up a pro-crypto replacement to head the Commodity Futures Trading Commission (CFTC). Summer Mersinger, who currently serves as a commissioner for the CFTC, is reportedly being considered for the role. 

Perhaps the biggest elephant in the room is whether Trump will take decisive steps to establish his promised strategic Bitcoin reserve. Senator Cynthia Lummis has already tabled the BITCOIN Act of 2024, which would require the Treasury to acquire 1 million BTC over five years.

Some industry players, like Strike CEO Jack Mallers, believe Trump could recognize Bitcoin as a reserve asset on day one of his term. Others, like Galaxy Digital CEO Mike Novogratz, believe it’s a long shot. 

Related: Crypto deregulation under Trump: Promises vs. reality