When he spoke at the Bitcoin conference in July this year, Trump made many favorable promises to the cryptocurrency industry.
So how many of these promises can actually be fulfilled?
He said that if elected, the prices of Bitcoin and other cryptocurrencies are bound to soar! He also mentioned that on his first day in office, January 20, 2025, he would fire the Chairman of the Securities and Exchange Commission, Gary Gensler, and appoint a new chairman.
He aims to keep all jobs related to Bitcoin on American soil, preventing them from moving elsewhere. He wants to establish a presidential advisory council on Bitcoin or cryptocurrencies to create a set of transparent regulatory guidelines, and this work must be completed within 100 days. He will fully support Bitcoin mining within the United States. There seems to be some mention regarding the prison sentence of Silk Road founder Ross Ulbricht, but it wasn't clearly explained here. He wants to end the U.S. government's hostile regulatory stance toward the crypto industry and ease crypto regulations. During his presidency, the U.S. will definitely not implement a central bank digital currency.
He believes that Bitcoin's market value will soon surpass that of silver, and even gold in the future. He claims to be able to prevent a third world war, which, although not directly related to cryptocurrencies, is still an important promise he made. The U.S. government must ensure that Bitcoin is 100% retained and not lost or mishandled. He intends to eliminate the capital gains tax on Bitcoin, so that people won’t have to pay this tax when they profit from buying and selling Bitcoin.
He also stated that he wants to make the U.S. the country with the lowest energy and electricity costs in the world, which seems to be somewhat related to Bitcoin mining. He plans to establish a strategic national Bitcoin reserve for the U.S. government, similar to how gold reserves are maintained. On the first day of the election, the anti-crypto initiatives that Joe Biden and Kamala Harris were involved in must come to an end. A plan needs to be formulated to make the U.S. a global cryptocurrency center and turn it into a superpower in Bitcoin.
