Author: Weilin, PANews
At 4 a.m. Beijing time on July 28, Trump, the Republican presidential candidate for the 2024 U.S. election, delivered an important speech at the Bitcoin 2024 conference held in Nashville. The speech time was delayed by about an hour due to security requirements of the Secret Service.
In his speech, Trump strongly supported Bitcoin and said that the market value of Bitcoin would exceed that of gold. After being elected, he would force Securities and Exchange Commission (SEC) Chairman Gary Gensler to step down and would retain the Bitcoin pledged by the government as a strategic reserve. There were warm applause and cheers from the audience from time to time.
However, partly due to the excessive use of political jargon, the market reacted differently during Trump's speech, with BTC falling below $67,000 and some related meme representatives also falling generally. But then, the market soon recovered and Bitcoin returned to above $68,000. It can be said that although Trump did not touch on the core content of Bitcoin and cryptocurrency in his speech, which was criticized by some industry insiders, his policy proposals covered a wide range of content, basically meeting the outside world's expectations for his previous position on encryption policy.
The following are the key points of his speech compiled by PANews.
1. Opening attack on rival Harris
Shortly after the opening, Trump attacked his political opponent, saying, "I have an opponent with a very low IQ. I'm not talking about him, I'm talking about her," obviously referring to Kamala Harris, the Democratic candidate who may become the candidate.
2. BTC’s market value will exceed that of gold
"This is what the steel industry was like a hundred years ago. I think Bitcoin is still in its infancy." Trump then said that Bitcoin's market value has been increasing since its birth, and it will soon surpass silver and will surpass gold in the future.
3. My family is smart, and you are all smart.
Trump mentioned his uncle, an MIT professor, during his speech, noting that he would get along well with attendees. "I have great respect for very smart people. And you are very smart people... My uncle, Dr. John Trump. He would be very suitable to be in this room... He is a legend in academia and a legend at MIT, so I know a lot about what you are doing."
4. Bitcoin will go to the moon, making the United States a BTC superpower
Trump said he will make sure the United States becomes the crypto capital of the planet. He is making plans to ensure that the United States will become the crypto hub of the planet and a Bitcoin superpower worldwide, hoping that the United States can lead other countries. If Bitcoin is going to go to the moon (price increase), he wants it to be the credit of the United States. Trump promised that the United States will produce more electricity to power artificial intelligence and Bitcoin.
5. Bitcoin represents freedom, sovereignty, and independence from government coercion and control
6. If elected, he will force SEC Chairman Gary Gensler to step down
“I promise the Bitcoin community that the day I am sworn in, Joe Biden and Kamala Harris’ anti-cryptocurrency campaign will end,” Trump said.
"The day I take office, Joe Biden and Gary Gensler's unfounded attacks on the crypto industry will end." He said that cryptocurrencies will not leave the United States due to regulatory uncertainty. He repeated in his speech that he would fire SEC Chairman Gary Gensler, and the audience applauded for this sentence.
7. Democrats are against cryptocurrencies, and Senator Elizabeth Warren is terrible
Trump mentioned in attacking his opponent, "Elizabeth Warren and her minions, she hates you so much, she hates you as a person, she hates everything about you."
8. Will appoint a presidential advisory committee on Bitcoin and cryptocurrency, will not support CBDC
Trump said that after taking office, he would immediately appoint a presidential advisory committee on Bitcoin and cryptocurrency. "They want to push for the creation of a central bank digital currency (CBDC). End it, forget it. There will never be a CBDC as long as I am president of the United States."
9. Trump also praised the development of stablecoins and support for Bitcoin mining in the United States.
10. “Bitcoin is not a threat to the dollar. The current U.S. government is a threat to the dollar. The threat to the dollar does not come from cryptocurrency, but from Washington, DC.”
11. Bitcoin cryptocurrency will surge like never before if elected president
Trump said that if he is elected president, "the Bitcoin cryptocurrency will soar like never before." Bitcoin rose 3,900% during Trump's last term, from $898 when he took office to $35,900 on his last day in office.
12. The US government should not sell BTC and should keep existing BTC as a strategic reserve.
Trump said, never sell your Bitcoin. "If I am elected, it will be the policy of my administration to retain 100% of all Bitcoin as part of the National Strategic Reserve of Bitcoin. I will prevent the U.S. government from selling seized Bitcoin."
13. Trump reiterated his promise to pardon Silk Road founder Ross Ulbricht if elected.
14. At the end of his speech, Trump said, "My promise to each of you is that I will be the pro-innovation and pro-Bitcoin president that America needs and that our citizens deserve."
