Trump Backs U.S. Bitcoin Reserve and Says Democrat Win Will Be Disaster for Crypto: 'Every One of You Will Be Gone

Thousands of bitcoiners camped out for hours to see crypto's self-declared candidate on Saturday at the Bitcoin Conference in Nashville

NASHVILLE — Former U.S. President Donald Trump promised to maintain a "strategic national bitcoin reserve" and "never sell" the government's seized bitcoin in a freewheeling speech that tightened the Republican candidate's grip on the crypto voting and fundraising bloc.

Leading up the event, there had been speculation and hope among crypto fans that Trump would announce such a reserve.

Speaking in a packed hall Saturday before over 3,000 attendees at the Bitcoin Conference in Nashville, Trump said of bitcoin, "I want it to be mined, minted and made in the U.S." He then laid out a "comprehensive" crypto policy that spanned from stablecoin regulation to the right to self-custody one's bitcoin.

The speech capped bitcoin's steady march from the internet's deepest niches into the heart of American politics – whereas once, it was the vilified coin of choice for darknet markets.

If we don't do it, China will do it," he said of embracing digital assets. Crypto is "the steel industry of 100 years ago, you're just in your infancy," he said. "One day it probably will overtake gold. ... There's never been anything like it.

He added that Democrats keeping the White House would be a disaster for crypto. "If they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things and you wouldn't believe.

If elected, Trump said his day one plans included firing Gary Gensler, the influential chair of the Securities and Exchange Commission who is widely reviled in the crypto industry. The promise drew huge applause from the crowd. "I didn't know he was that unpopular," Trump said. Trump also said he will appoint a "a bitcoin and crypto advisory council" upon taking off $BTC $ETH $SOL #ETH_ETFs_Trading_Today #Bitcoin_Coneference_2024 #BinanceHODLerBANANA #BinanceHODLerBANANA