Donald Trump Promises to Make US the Crypto Capital of the World at Bitcoin 2024
Date: 2024-07-29 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS
On July 27, 2024, US presidential candidate Donald Trump spoke at the Bitcoin 2024 conference held in Nashville. In his speech, he touched on both election and cryptocurrency topics, making a number of important statements about Bitcoin.
Statements about Bitcoin and Cryptocurrencies
Trump noted that Bitcoin is the ninth most valuable asset in the world and predicted that it will overtake gold and silver in market capitalization. He emphasized that if the US does not embrace cryptocurrency and Bitcoin technology, China and other countries will, which will lead to their dominance.
"If we don't embrace cryptocurrency and Bitcoin technology, China and other countries will. They will dominate, and we can't allow China to dominate," Trump said.
Criticizing the Current Administration
The presidential candidate accused the current administration of a "war on cryptocurrency," saying it was "choking" financial services and preventing Americans from moving their assets to exchanges. He also expressed a negative opinion of Vice President Kamala Harris, accusing her of being very opposed to cryptocurrency and calling her positions on the issue radical.
"The Biden and Harris administration's crackdown on cryptocurrency is wrong," Trump said, adding that Bitcoin symbolizes freedom, sovereignty, and independence from government control.
Trump noted that during his previous tenure as president, the price of Bitcoin had increased by 3,900%, from $898 to $35,900. He emphasized that he plans to fire the current head of the US Securities and Exchange Commission (SEC) on the first day of his new term and appoint a person who will promote the development of cryptocurrencies.
Strategic Plans
Trump also promised to turn the United States into a Bitcoin mining hub and guaranteed that the 210,000 BTC that are on the country's balance sheet will not be sold. These assets will be stored as a strategic national reserve of Bitcoin. Among Trump's other promises:
- Commuting the sentence of Silk Road founder Ross Ulbricht.
- Banning the launch of a central bank digital currency (CBDC) during his presidency.
- Immediately appointing an advisory board on Bitcoin and cryptocurrencies.
- Turning the United States into the cryptocurrency capital of the world.
During Trump's speech, the price of Bitcoin fluctuated between $66,600 and $69,200. The volume of liquidations on futures in the crypto market amounted to about $190 million in the last 24 hours, according to CoinGlass.
Donald Trump's speech at the Bitcoin 2024 conference marked his desire to actively promote cryptocurrencies in the United States and make the country a world leader in this field. His promises and plans have caused a wide resonance and support among the crypto community, raising the question of the future of regulation and integration of cryptocurrencies into the US economy.
