Gushiken Yona
Donald Trump, the Republican candidate for the U.S. presidential elections, delivered a compelling speech at the Bitcoin 2024 Conference on Saturday, positioning himself as a staunch advocate for cryptocurrency.
Speaking to a packed audience in Nashville, Tennessee, the former president outlined his crypto-related policies and aimed to win over crypto voters by promising regulatory changes and highlighting the strategic importance of Bitcoin. He electrified the crypto community over the weekend with a series of bold promises that could reshape U.S. policy on digital assets.
Trump’s address began with a bold promise: firing SEC Chairman Gary Gensler on his first day back in office, should he be re-elected. “I will appoint a new SEC chairman who believes America should build the future, not block the future,” Trump stated firmly.
The audience responded with enthusiastic chants of his name, reflecting the widespread dissatisfaction with current regulatory approaches to crypto. But that was just the start of his speech.
In a significant policy declaration, Trump pledged that under his administration, the government would retain its 210,000 Bitcoins and any future acquisitions. He proposed establishing a Strategic National Bitcoin Stockpile, intended to serve as a national asset for all Americans. “This stockpile will serve as a cornerstone of our economic strategy,” he asserted, underscoring the potential economic benefits of maintaining a robust national reserve of Bitcoin.
But Trump’s speech also featured pointed criticism of the current administration. He labeled President Joe Biden’s leadership a “fascist regime” and specifically targeted Vice President Kamala Harris, his Democratic opponent in the elections, calling her “radical” and “worse than Biden.” He argued that the Biden-Harris administration’s policies on cryptocurrency are harmful to the nation.
“The Biden-Harris Administration’s repression of crypto and Bitcoin is wrong and it’s very bad for our country,” Trump declared. He warned that their victory in the upcoming election would be disastrous for the crypto community. “Let me tell you, if they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things that you wouldn’t believe.”
These comments came shortly after a group of Democrats acknowledged in a letter that many Americans perceive their party as anti-crypto. The letter cautioned that this perception could significantly impact the November elections and recommended a more progressive approach to cryptocurrency. The group advised Harris to appoint a crypto-friendly SEC chair and consider a pro-crypto vice presidential candidate.
Addressing the substantial energy demands of Bitcoin mining and artificial intelligence (AI), Trump proposed constructing fossil fuel-based power plants to ensure a reliable electricity supply. His goal is to position the U.S. as a “Bitcoin mining powerhouse” with the lowest energy costs globally. “We will very simply drill baby, drill,” Trump announced, promising that fossil fuels would be utilized in an “environmentally friendly way.” Despite his previous criticisms of AI as a “dangerous thing,” Trump expressed confidence in balancing energy production with environmental concerns.
Trump’s speech at the Bitcoin 2024 conference marked a strategic effort to secure support from the cryptocurrency community by promising regulatory reforms and a pro-crypto administration. His vision for a Strategic National Bitcoin Stockpile and energy policies aimed at supporting Bitcoin mining highlight his intent to integrate cryptocurrency into the national economic framework.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
