Trump Embraces Bitcoin, Promises Crypto Superpower Status
Former President Donald Trump has declared his intention to make the United States a “bitcoin superpower” if elected for a second term. Speaking at the Bitcoin 2024 conference in Nashville, Tennessee, Trump promised to embrace cryptocurrency and create a “bitcoin strategic reserve” using government funds.
Trump’s speech was a stark contrast to his previous stance on cryptocurrency, which he once dismissed as having “value based on thin air.”
Trump has clearly shifted his perspective on cryptocurrency, highlighting his support for the industry and his opposition to the Biden administration’s regulatory efforts. He vowed to remove SEC Chair Gary Gensler and establish a crypto advisory council, inviting attendees to join.
He also expressed sympathy for bitcoin enthusiasts facing law enforcement action, particularly mentioning the case of Ross Ulbricht, creator of the Silk Road marketplace. Trump promised to commute Ulbricht’s life sentence, drawing cheers from the crowd, many of whom wore “Free Ross Day One” hats.
Trump’s announcement of a bitcoin strategic reserve was hailed as a “historic moment” by Tennessee Senator Marsha Blackburn.
While Trump’s pro-crypto stance is a significant development, it’s important to note that he is not alone in his enthusiasm for Bitcoin. Independent presidential candidate Robert F. Kennedy Jr. also addressed the conference the day before, proposing the creation of a strategic bitcoin reserve.
The future of cryptocurrency in the United States remains to be seen, but Trump’s pronouncements suggest a potential shift in the political landscape for digital assets.
