Trump Vows to Make U.S. a "Bitcoin Superpower" if Elected President
Donald Trump’s appearance at the Bitcoin 2024 event marked the first time a former U.S. president spoke at a BTC-focused conference. Since May 2024, Trump has become a vocal supporter of cryptocurrency, stirring excitement among digital currency advocates. Drawing parallels between the Bitcoin industry and the steel industry of the past century, Trump noted BTC’s current standing as the ninth most valuable global asset and forecasted that it would eventually surpass the market value of both silver and gold.
“Congratulations on your achievements,” Trump told the bitcoin community, underscoring the need for the U.S. to lead in the future of bitcoin (BTC) over China, a stance he has consistently taken. “I want the United States to be the leader in technology,” Trump stated. He referenced his uncle, an MIT professor, suggesting he would have resonated with the conference’s attendees. Trump mentioned his administration's plans to significantly increase electricity production and discussed Elon Musk’s endorsement in the context of electric vehicles, expressing his belief that not everyone should be required to own one.
Trump highlighted that his campaign raised 25 million dollars in crypto, primarily in bitcoin (BTC). He cautioned that the Harris administration would be hostile toward the crypto industry. “Today, I’m outlining my plan to make the United States the global crypto capital,” Trump declared, aiming for the nation to become the “bitcoin superpower of the world.” He criticized Biden as the “worst president of the United States” and claimed Vice President Kamala Harris does not support cryptocurrency.
Trump vowed to end Biden’s and Harris’s crackdown on crypto from day one, promising to fire U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler immediately and appoint a new chair. He committed to shutting down Operation Chokepoint 2.0 upon taking office and proposed establishing a crypto council to create favorable regulations within his first 100 days. Trump assured that during his term, there would never be a central bank digital currency (CBDC). He also backed non-custodial solutions and the responsible regulation of stablecoins, arguing that BTC does not threaten the U.S. dollar; rather, the behavior of the U.S. government does. He predicted a booming stock market if he wins the election but warned of a possible depression akin to 1929 if he loses.
He reaffirmed that the U.S. government would retain 100% of its BTC reserves and reiterated his commitment to commuting the sentence of Ross Ulbricht, the Silk Road founder serving two life sentences. “Enough is enough,” Trump declared regarding Ulbricht’s imprisonment.