On July 28, 2024, at the Bitcoin 2024 conference, former President Trump delivered a passionate speech and released a series of exciting policy promises, which triggered warm applause from cryptocurrency supporters. Trump said that if he is re-elected as president, he will take a series of tough measures to completely change the cryptocurrency policy in the United States.
Trump, the Republican presidential candidate in 2024, said that in just 15 years, Bitcoin has grown from an idea posted anonymously on an Internet forum to the world's ninth most valuable asset. It is incredible. Bitcoin is already bigger than ExxonMobil and will soon exceed the total market value of the entire silver market. One day in the future, it is likely to surpass gold.
Trump told the enthusiastic cryptocurrency practitioners in the audience: "You are the modern Edison, Wright brothers, Carnegie and Henry Ford. What you have done in your life will hopefully last forever."
Trump added that his children are very familiar with Bitcoin, and he is impressed by this emerging technology, which is just like the steel industry 100 years ago, and is just getting started now. Trump highly praised the outstanding talents and innovative spirit of the cryptocurrency industry, and said that this is the spirit of building the United States back then, and will help "make America great again."
Then, Trump went straight to the point and said: "We will take back control of the cryptocurrency market from the U.S. Securities and Exchange Commission (SEC) and let innovation develop freely. I promise that if I am elected as the next president, I will fire SEC head Gary Gensler on the first day and let him get out!" As soon as these words came out, the audience burst into thunderous applause and cheers.
Trump said that Gensler has a negative attitude towards cryptocurrencies and has been hindering the development of the cryptocurrency industry. It is time to replace him with someone who is more supportive of cryptocurrencies to lead the SEC. As the world's largest economy, the United States has the responsibility to lead the development of global cryptocurrencies.
If elected, Trump promised to fully support Bitcoin, making it a "national strategic reserve asset" for the United States, and advocating that everyone should "never sell their Bitcoin." Trump excitedly said in his speech, "Bitcoin will go to the moon, and we will hold it forever! I will ensure that under my new administration, the United States will become the global cryptocurrency capital. We want to make the United States the world's number one again, and cryptocurrency is the key to achieving this goal."
At the same time, Trump claimed, "Bitcoin, this national strategic reserve, will ensure that the United States is at the forefront of future digital currency competition. I want people all over the world to envy the United States' digital currency policy. I promise to simplify cryptocurrency-related regulations and create a more relaxed and friendly regulatory environment for companies in the industry."
Trump also said that a series of measures would be taken to promote the United States to become a "global leader in blockchain technology." These measures include:
Provide massive tax incentives to encourage cryptocurrency and blockchain companies to set up headquarters in the United States.
Significantly relax regulation on cryptocurrency-related companies and cancel unreasonable restrictive policies.
We have reached a cooperation with a world-renowned cryptocurrency exchange to establish a digital asset trading center in the United States.
Invest heavily in blockchain infrastructure construction and promote the widespread application of blockchain technology in various industries.
Establish a special cryptocurrency regulatory agency at the federal government level to formulate policies and regulations that are conducive to the development of the industry.
Trump has sent a strong signal that he plans to actively support the development of the cryptocurrency industry during his future presidency. At the same time, he has also expressed his intention to curb the development of the digital dollar, which will undoubtedly bring more policy support and regulatory space to the existing cryptocurrency market.
Trump has bluntly criticized the U.S. government's enthusiasm for the digital dollar in recent years. He said, "The digital dollar is competing with Bitcoin, and the American people will never allow this to happen! We will not be fooled by the digital dollar, we will resist it. We want to ensure that the United States becomes the world's most powerful cryptocurrency center."
In general, Trump's "political show" at the Bitcoin Conference won a warm response from Bitcoin supporters present, and the audience stood up and applauded. Moreover, this high-profile Bitcoin "all-in" statement has attracted widespread attention and heated discussions in the industry. Industry insiders said that if Trump is elected, he may completely change the cryptocurrency landscape in the United States, push Bitcoin prices to new heights, and make the United States a "hot commodity" for global cryptocurrency. Moreover, "all-in" Bitcoin and holding it to the moon may become Trump's best advice to crypto investors in the future.
For Trump, a controversial politician, embracing Bitcoin is undoubtedly an unexpected change. But it also makes people wonder how Trump will fulfill his promise if he is really re-elected, and what kind of changes will he bring to the Bitcoin and cryptocurrency industry. In any case, in the future, blockchain and cryptocurrency will undoubtedly become an important issue that cannot be ignored.
