Former President Donald Trump made bold pledges to the Bitcoin community at the Bitcoin 2024 conference in Nashville. He promised to create a strategic national reserve of Bitcoin as an economic asset if elected in 2024. Trump vowed to end Joe Biden and Kamala Harris’ anti-crypto policies, making the United States the crypto capital of the world. He also stated he would fire SEC Chairman Gary Gensler and appoint someone more supportive of Bitcoin and crypto. Additionally, Trump pledged to keep 100% of the government’s current Bitcoin rather than auctioning it off, slowly building up a national reserve.
In his speech, Trump emphasized that Bitcoin represents freedom, sovereignty, and independence from government control. He asserted that Bitcoin and crypto would thrive under his presidency, appealing to the largely libertarian-leaning audience at the conference. Attendees expressed support for Trump’s stance on Bitcoin, with some indicating they would vote for him in 2024 due to his pro-crypto stance. Trump also reiterated his commitment to pardon Silk Road founder Ross Ulbricht on his first day in office, highlighting his willingness to support prominent figures in the crypto space.
Following Trump’s speech, Bitcoin experienced a significant surge in price, reaching its highest level in six weeks. Independent presidential candidate Robert F. Kennedy Jr. also spoke at the conference, promising to build a 4 million Bitcoin reserve if elected. While Trump’s plan may not be as ambitious, it still represents a substantial embrace of Bitcoin from the Republican nominee. With Bitcoin emerging as a key issue in the 2024 campaign, Trump’s efforts to court the growing Bitcoin and crypto wing within the GOP appear to be effective based on the enthusiastic reception in Nashville.
Overall, Trump’s promises to the Bitcoin community signify a potential shift in government policy towards cryptocurrencies. By pledging to create a national reserve of Bitcoin and appoint crypto-friendly officials, Trump is positioning himself as a champion for the crypto industry. With Bitcoin becoming increasingly mainstream, Trump’s pro-crypto stance could resonate with a significant portion of voters who support digital assets. As the 2024 election approaches, it will be interesting to see how Trump’s embrace of Bitcoin influences the political landscape and shapes the future of cryptocurrency regulation in the United States.
