Trump vows to fire SEC Chair Gensler on day one and appoint a pro-innovation leader if elected.
Trump plans to establish a national Bitcoin stockpile and make the U.S. a Bitcoin mining powerhouse.
Strong opposition to CBDCs, pledges to commute Ross Ulbricht’s sentence, and end the “anti-crypto crusade.”
At the Bitcoin Conference 2024, Donald Trump delivered a speech that resonated strongly with the crypto community. He announced sweeping plans to reform the U.S. approach to cryptocurrency, emphasizing his commitment to Bitcoin and digital assets. Trump promised major changes starting from his first day in office if elected.
Donald Trump 2024 Bitcoin Conference Speech Recap: • On day one I will fire Gary Gensler and appoint a new SEC chairman.• Create a US Government strategic national Bitcoin stockpile if elected.• US Government will keep 100% of Bitcoin it owns • Bitcoin is going to… pic.twitter.com/HHgd0NZubX
— Watcher.Guru (@WatcherGuru) July 27, 2024
Major Regulatory Changes Proposed
Trump criticized the current U.S. Securities and Exchange Commission (SEC) under Gary Gensler, vowing to replace him on day one. He assured the audience, “I’d appoint a new SEC Chairman who believes in building America and not blocking the future.”
Trump’s vision includes appointing an SEC leader supportive of innovation in the digital asset space. He labeled Kamala Harris a “low IQ individual” for her support of Gensler and opposition to crypto.
Strategic National Bitcoin Stockpile
Trump unveiled a plan to establish a strategic national Bitcoin stockpile. He emphasized that the U.S. government would retain 100% of its Bitcoin holdings. Additionally, he declared his intention to transform the U.S. into a Bitcoin mining powerhouse, aiming to eliminate the need for miners to relocate to China. This initiative is part of his broader goal to make the U.S. the “crypto capital of the planet” and a “Bitcoin superpower.”
Strong Stance Against CBDCs
Trump took a firm stance against the implementation of a Central Bank Digital Currency (CBDC). He stated, “There will never be a CBDC while I am President of the United States.” Trump also reaffirmed his pledge to commute Ross Ulbricht’s sentence, emphasizing his commitment to the Bitcoin community. He criticized the current U.S. government, stating, “Bitcoin is not threatening the dollar, the current U.S. government is threatening the dollar.”
Trump’s predictions about Bitcoin’s future include its potential to surpass the market cap of gold. He urged people to never sell their Bitcoin, predicting that the value of Bitcoin and crypto would skyrocket if he were elected president. He stated, “Crypto is going to the moon. I want America to lead the way.”
In his speech, Trump laid out his vision to draft forward-thinking crypto regulations through a dedicated committee. He pledged to shut down Operation Chokepoint and end what he called the “anti-crypto crusade.” Trump’s comments reflect a significant shift in his views on cryptocurrency, aligning with a pro-crypto agenda that aims to bolster the country’s position in the global digital economy.
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