- Trump said he would make Bitcoin US a strategic reserve
- He warned that if the US doesn’t, China will do it
- And plans to support the mining and circulation of Bitcoin in the US
- Also, criticized the SEC and Democrats regarding crypto initiatives
We got Donald Trump’s long-awaited speech at the Bitcoin 2024 Conference in Nashville. He was expected to make statements about the Bitcoin U.S. Treasury Reserve initiative, among other things, which you can read more about in our article.
In his speech, he discussed the Bitcoin U.S. strategic reserve, promised to support Bitcoin mining and circulation in the U.S., and criticized the SEC and Democrats regarding the crypto industry.
What’s in Trump’s Bitcoin 2024 Speech Promises?
First, Donald Trump expressed his support for Bitcoin, insisting on creating a “strategic national Bitcoin reserve” and outlining his initiatives regarding this if he wins the presidential election. He once again clarified that he believes Bitcoin has strategic potential in future global politics and economics.
He said crypto is “the steel industry of 100 years ago; you’re just in your infancy. One day, it probably will overtake gold. There’s never been anything like it.”
To make this possible, Trump also outlined that he will support Bitcoin mining and holding in the U.S. as much as possible, creating favorable conditions and helping crypto regulation changes. He promises proactive initiatives in providing comprehensive crypto policy, covering stablecoin regulation and the right to self-custody Bitcoin.
Along the way, he criticized the Democrats regarding crypto and said their victory would be a disaster for the crypto industry.
“If they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things, and you wouldn’t believe.” he said.
In addition, he also criticized the SEC regarding crypto and said that he plans to fire Gary Gensler, the influential chair of the Securities and Exchange Commission, on day one.
Conclusion
Donald Trump knows what his constituents want to hear and has consistently insisted on his pro-crypto stance, criticizing opponents for hurting the crypto industry and the U.S. leadership role in it.
His message has also reached many crypto investors and enthusiasts, and industry leaders have rewarded him with significant campaign contributions.
The question remains: what initiatives will we see if he wins, how intense will they be, and how truly beneficial will they be to the entire crypto community, not just its biggest players and even more so to the states?
