Trump announces industry support at Bitcoin conference: promises major shift in cryptocurrency policy."
Table of Contents
- Introduction: Trump at the Bitcoin Conference
- Summary: The Future of the Bitcoin Industry
- Latest Posts
Introduction: Trump at the Bitcoin Conference
On July 28, 2024, former President Donald Trump appeared at the Bitcoin Conference in Nashville. Trump was the first U.S. presidential candidate to speak at a Bitcoin-related event and expressed strong support for the industry.
High praise for the bitcoin industry
Trump compared the bitcoin industry to "the steel industry 100 years ago" and emphasized its importance and potential. He praised bitcoin for becoming the ninth most valuable asset in the world and praised the growth of the industry.
Criticism of the current administration's cryptocurrency policy
Describing the Biden Harris administration's stance on cryptocurrencies as a "war," he strongly condemned the pressure on the industry by the SEC and other regulators. In particular, he was critical of SEC Chairman Gary Gensler's policies.
Trump's proposed cryptocurrency policy
- Promised to remove SEC Chairman Gary Gensler.
- Operation Choke Point" (Operation Choke Point) was declared immediately suspended.
- Proposed the creation of a Presidential Advisory Committee on Bitcoin and Cryptocurrencies.
- The Central Bank Digital Currency (CBDC) has promised to cease development.
- We proposed the creation of a framework for the safe and responsible expansion of stablecoin.
- Economic Policy and Bitcoin
- Calling inflation a "national destroyer," he promised to curb it.
- He argued for a shift in energy policy ("drill baby drill") and stated that low-cost energy would facilitate bitcoin mining.
- He proposed making the Trump tax cuts permanent and repealing the tax on tips.
New policy for government-held bitcoin
The U.S. government revealed that it holds approximately 210,000 bitcoins (11 TP3T of the total supply) and announced a new policy to hold these as a "Strategic National Bitcoin Stockpile".
Other notable statements
There were some high-profile remarks, including a reference to Ross Ulbricht's commutation of his sentence and comparing the bitcoin industry to "modern-day Edison, Wright Brothers, Carnegie, and Henry Ford".
Aspects as an election campaign
He emphasized the importance of his own reelection to the bitcoin industry and criticized Vice President Kamala Harris, and his remarks were also marked by his awareness of the 2024 presidential election.
Summary: The Future of the Bitcoin Industry
Trump promised to create a friendly environment for bitcoin and the cryptocurrency industry if he is returned to the presidency. He expressed optimism about the future of the industry and envisioned the United States leading the Bitcoin revolution.
This speech suggests that cryptocurrency policy could be a key issue in the 2024 presidential election.
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