Former president and Republican presidential nominee Donald Trump delivered a keynote address at the Bitcoin 2024 conference on Saturday, marking a significant shift from his previous stance that Bitcoin was not money. Trump boldly declared that under his leadership, America would become the global leader in cryptocurrency.
Trump’s Vision for America’s Crypto Future
Trump began his speech by emphasizing his commitment to putting “America first.” He asserted that if the U.S. did not take the lead in the crypto revolution, other nations like China would dominate. “If crypto is going to define the future, I want it to be mined, minted, and made in the USA,” Trump proclaimed.
Highlighting Bitcoin’s principles, Trump stated, “Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.”
Administrative Overhaul and Policy Promises
Trump announced his intent to overhaul key regulatory bodies. On the first day of his presidency, he plans to dismiss Gary Gensler, the current chairperson of the U.S. Securities and Exchange Commission (SEC). “Kamala wants to make her Treasury Secretary,” he quipped, criticizing Vice President Kamala Harris.
He promised to terminate “Operation Choke Point 2.0,” a controversial program aimed at cutting off financial services to certain industries, and to establish a council dedicated to Bitcoin and cryptocurrency.
Surprise Guest and Speculation
Trump’s speech was delayed as attendees anticipated a special guest, with many speculating it might be Elon Musk. However, no further details were provided during the event.
Support for Bitcoin and Cryptocurrencies
Trump confirmed that his campaign accepts donations in Bitcoin and other cryptocurrencies. He warned that a Democratic victory would be detrimental to the crypto community, describing potential Democratic actions as “vicious.”
Critique of Vice President Kamala Harris
Trump sharply criticized Vice President Harris, calling her a “radical, lunatic” who is against cryptocurrencies. He predicted market optimism at the prospect of his presidency, claiming, “Markets are skyrocketing because they are expecting Trump to become the president.”
Economic and Technological Goals
Trump expressed his ambition for the U.S. to lead in technology and cryptocurrency, likening Bitcoin’s potential to the steel industry a century ago. He vowed to increase electricity production, even with fossil fuels, to support AI and Bitcoin mining.
Policy Framework for Cryptocurrencies
Trump outlined several policy initiatives:
- He will ensure Bitcoin and crypto jobs remain in the U.S.
- He promised no Central Bank Digital Currency (CBDC) during his administration.
- He will establish a Bitcoin and crypto advisory council within 100 days to create transparent guidance.
- He aims to prevent the sale of confiscated Bitcoin by the U.S. government and to create a Strategic National Bitcoin Inventory.
Final Remarks
Trump praised the Bitcoin community for their understanding of inflation, contrasting it with current economic policies. He urged, “NEVER SELL YOUR BITCOIN,” and concluded with a promise to create a Strategic National Reserve of Bitcoin if elected.
As Trump envisions a future where Bitcoin replaces gold and drives technological advancement, his remarks have sparked both excitement and controversy in the crypto world.
