Donald Trump vowed to create a national crypto reverse and never sell crypto seized by the government at the Bitcoin 2024 conference.
The appearance of the Republican presidential candidate, Donald Trump, at the Bitcoin 2024 conference renewed the hopes of the crypto community, which the current regime has oppressed.
Trump vowed to maintain a strategic national Bitcoin reserve and never sell crypto seized by the authority if he ascend office in November.
Donald Trump Attend the Bitcoin 2024 Conference
In his speech, Trump outlined the strategies he will implement to improve the attractiveness of the US crypto industry. He stated that once he retakes the White House after the election, he will ensure that Bitcoin is mined, minted, and made in the US.
At the stage, it was evident that Trump was prepared for the day, portraying his willingness to bring positive change to the crypto industry.
Trump argued that if the US failed to embrace crypto, its top rival, China, would do it. The Republican nominee described crypto as a 100-year-old steel industry.
He noted that the American crypto adoption was at the infancy stage, and as it matures, the digital assets would outsmart gold. The politician was keenly aware that his speech would determine the election outcome.
Trump Made Five Promises to the Crypto Community
Reflecting on the events in the crypto space, Trump noted that the Democrats winning the election will be a disaster for crypto. He envisioned that if the Democrats retook the White House, thousands of crypto investors would exit the market.
Reviewing the performance of the Biden administration, Trump noted that the Democrats were ruthless and capable of doing anything to destroy the crypto industry. He vowed to fire the US Securities and Exchange Commission (SEC) chair, Gary Gensler, on his first day in office.
For years, Gensler enforced stringent rules that stifled crypto growth. Under the leadership of Gensler, most crypto exchanges have exited the US market. Trump pledged to abolish Operation Choke Point 2.0, which the Biden administration implemented to suppress crypto activities.
Under the current regime, Bitcoin companies were restricted from accessing the traditional finance sector, undermining American competitiveness. Trump confirmed that the enforcement action by the Biden administration was targeted to bring down good players in the crypto market.
He vowed to pardon the man behind the Silk Road, a website that engages in drug trafficking, among other fraudulent activities, Ross Ulbricht. The former president noted that Ulbritcht’s 40 years of sentencing were excessive and unconstitutional. He argued that Ulbricht had served enough jail terms.
Republican Presidential Candidate Vows to Create Bitcoin Stockpile
Nonetheless, Trump plans to restore sanity in the digital sector by appointing a crypto advisory committee to oversee the supervision and regulation of digital assets. The committee will assist the government in solving complex issues in the crypto industry. He explained that the committee is critical in improving the US economic stability.
He vowed to make the US the crypto capital and Bitcoin superpower. Trump unveils comprehensive crypto regulation that discusses different regulatory approaches for policing crypto, stablecoin, and Bitcoin.
The former president expressed his optimism that Americans will attain crypto success. The crowd cheered Trump as he promised to redefine the US crypto market. It was evident that Trump’s crypto advisors had vast experience in crypto and blockchain technologies.
Furthermore, Trump silenced the rumors that Bitcoin contributed to the dollar’s devaluation. He pledged to restore the dollar’s stability by adhering to Bitcoiner’s cardinal rule, “Never sell Bitcoin.”
The principle states that if Bitcoin supply remains constant, a slight increase in the customer’s purchasing power sends BTC to the moon. Therefore, BTC trading has been considered a bad trade since BTC is the hardest money in history.
Trump plans to hold on to Bitcoin as a strategic national Bitcoin stockpile under his leadership. This implies that the US government will hold 200,000 BTC, which the regulators seized.
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