Donald Trump, a candidate for U.S. President, announced that he will make Bitcoin an important reserve asset for the U.S. if he is elected. He made this statement during his speech at the Bitcoin 2024 Conference on July 27.
During the speech, Trump stated that if he is elected, his administration will adopt a policy for the United States to keep 100% of all the Bitcoin the government currently holds or acquires in the future. He explained that this would effectively serve as the core of the strategic national Bitcoin stockpile.
– Donald #Trump announced a new policy if he is elected.
– His administration will keep 100% of all Bitcoin the US government holds or acquires.
– This policy aims to make Bitcoin the core of the strategic national Bitcoin stockpile.
Source: #Bitcoin 2024 conference— Bitcoinik (@Bitcoinikdotcom) July 28, 2024
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Trump has shifted to a more pro-crypto stance, which is a big change from his past criticism of digital currencies. He believes making Bitcoin a reserve asset will legitimise it, attract investors, and potentially raise its price.
Popular billionaire business tycoon Mark Cuban also supports the idea of Bitcoin as a global reserve asset, seeing it as a safe haven during times of geopolitical and economic uncertainty in the U.S.
At the Bitcoin 2024 Conference, Trump shared his plan to make the U.S. a Bitcoin superpower, emphasising the need to stay ahead of China and other countries in the crypto industry. He said that if America does not adopt this sector, others will.
Trump announced his plan to remove the Securities and Exchange Commission (SEC) Chair Gary Gensler, who is known for his crypto hater stance, on his first day in office, replacing him with someone who supports technological innovation.
He also criticised the current administration’s tough stance on crypto as “un-American” and promised to end Operation Chokepoint 2.0. Trump pledged to the Bitcoin community that on the day he takes office, Joe Biden and Kamala Harris‘s anti-crypto policies will end.
The former US president also emphasised his commitment to ousting crypto opponents from government power and promoting a pro-crypto agenda.
Read also: Toyota Plans to Use Ethereum Blockchain in Cars
Trump Says He Will Make Bitcoin a Key U.S. Asset if Elected: Bitcoin 2024 Conference
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