On Saturday, the US presidential candidate Donald Trump, who has recently survived a failed assassination attempt, went to the biggest Bitcoin conference of the year in Nashville, US – Bitcoin 2024.
He made several quite loud and promising statements that very much appealed to the Bitcoin community that gathered at that event. Trump promised that if he wins the elections in November, the US will become a global Bitcoin hub and that the US government’s attitude towards the world’s leading digital currency will change forever and will change for the better. He also made some promises about crypto should he become US president, which may sound a bit too opportunistic to somebody from the cryptocurrency space.
Trump’s Bitcoin 2024 Speech
Donald Trump has become the first US presidential candidate who turned towards the cryptocurrency community, actually making a U-turn after criticizing Bitcoin during his first presidency.
For the 2024 elections, Trump started accepting donations in crypto. Those are being accepted not only in Bitcoin but also in other cryptos, including stablecoins, top altcoins, such as BNB and SOL, as well as meme coins (SHIB, DOGE, PEPE, WIF) and MAGA (TRUMP) – the meme coin created by Trump’s supporters during this first presidential term.
MAGA stands for his election slogan: “Make America Great Again.” During his speech on Saturday, Trump said that he was proud of becoming the first presidential candidate in the US who values crypto and accepts donations in it.
Promising Bitcoin Heaven for the US under Trump’s Potential Presidency
Trump also proudly stated that during his presidency of 2017 – 2021 Bitcoin surged from $898 to $35,999. Again, he never mentioned that he used to criticize the world’s biggest cryptocurrency, which, it seems, bothered nobody at the Bitcoin 2024 event.
He made an emphasis on Bitcoin, speaking of it as a cornerstone of the future of the USA. Among his lavish promises regarding BTC if he is elected to rule the country once again were the ones that he will turn the US into “the cryptocurrency capital of the world and a global Bitcoin superpower.”
Adopting Bitcoin for the US is vitally important, the candidate announced, because it is “the ninth most valuable asset in the world,” which will surpass gold one day, according to Trump. If the USA does not choose to or fails to adopt cryptocurrency technologies, China will steal the leadership from it here, he pointed out. Going in line with Bitcoiners that gathered to listen to his speech at the event, Trump voiced the slogan they frequently post on social media – “Bitcoin is going to the moon!”
Trump also touched on another rule that any true Bitcoiner is aware of – he said that with Joe Biden at the country’s steering wheel, the US broke this rule and began selling its BTC holdings. Trump promised that should he occupy the presidential chair in the Oval Office in the White House, the government will stop selling and will begin holding and accumulating Bitcoin. He then urged the community to never sell their Bitcoin but hold it tight, since if he becomes president, “cryptocurrencies will skyrocket like never before.”
That looked like Trump turning into Tyler Durden and shouting “The first rule of any Bitcoiner is do not sell your Bitcoin. The second rule of any Bitcoiner is do not sell your Bitcoin!”
Promising Fair Regulatory Rules for Crypto
After mentioning that the US government under him as president would start accumulating Bitcoin, Trump admitted that the current presidential administration has started a three-year war against crypto as it began to block money transfers with it and “made life difficult” for Bitcoin adopters.
Everybody in the cryptocurrency community knows that the war on crypto was imposed by the US Security and Exchange Commission (SEC) chairman Gary Gensler. This gentleman, cursed and hated by the majority of crypto holders, declared a war on the crypto industry as he claimed that all crypto (except Bitcoin) are unregistered securities, according to the Securities Act created in the 1930s to regulate securities back then.
The SEC filed a lawsuit against the largest crypto companies called Ripple in 2020 and Gary Gensler continued this legal suit as he took over from the SEC chair who started it – Jay Clayton. Under Gensler, the SEC has also been making life difficult for various other crypto companies, including crypto exchanges and wallets – Coinbase, Kraken, etc – and some of them have started to leave the US to do business anywhere in the world but not there for lack of clear regulatory rules.
Trump promised that on the first day of his presidency he would fire Gary Gensler and make the government create transparent regulatory rules for working in the cryptocurrency space in the USA.
The kind of cherry-on-the-cake promise made by Donald Trump was that the US will start mining Bitcoin and that he will never allow the creation of a digital dollar – CBDC. Pro-crypto Senator Cynthia Lummis confirmed Trump’s statement about creating a Bitcoin reserve by the US, and said that within the next five years, the US will accumulate 1 million Bitcoin, which is 5% of the total BTC circulating supply.
The audience at Bitcoin 2024 burst with applause after every pro-Bitcoin statement made by Donald Trump.
