Donald Trump’s Bitcoin Superpower Plan
Former President Donald Trump has declared his intention to make the US a “Bitcoin superpower” if elected in 2024. He outlined a plan at the Bitcoin2024 conference, promising to create a “Bitcoin and crypto presidential advisory council” to provide regulatory clarity for the industry. Trump also pledged to end the US government’s efforts to create a central bank digital currency (CBDC), a move that has been welcomed by many cryptocurrency enthusiasts.
Trump’s plan includes:
- Appointing a council to provide transparent regulatory guidance for the cryptocurrency sector.
- Establishing a “strategic national Bitcoin stockpile.”
- Creating a framework to enable the safe and responsible expansion of stable coins.
- Firing Securities and Exchange Commission Chair Gary Gensler.
Trump has also promised to protect the right to self-custody of crypto assets, and to ensure that Bitcoin jobs and businesses remain in the US. He argues that Bitcoin will be a major driver of economic growth and will strengthen America’s financial dominance.
Trump’s Bitcoin plan is likely to be met with mixed reactions. Some may view it as a positive step towards greater adoption of cryptocurrencies, while others may be concerned about the potential for regulatory uncertainty and market volatility.
It remains to be seen whether Trump will be able to implement his plans if he is elected. However, his pronouncements have certainly sparked a debate about the future of Bitcoin and cryptocurrencies in the US.
