Trump unveils plan for US Bitcoin reserve during 2024 keynote
Former President Donald Trump made headlines at the Bitcoin 2024 conference in Nashville, where he expressed his strong support for the crypto industry and outlined his vision for a national Bitcoin reserve.
During his keynote address at the event, which took place on July 27, Trump emphasized his backing for cryptocurrency and called for deregulation to support its growth. He addressed key industry concerns such as the U.S. SEC Chair, SAB 121, CBDCs, stablecoins, and the current administration’s approach to crypto.
One of the most significant announcements made by Trump was his plan to establish a “strategic national Bitcoin stockpile” in the United States if he is elected. He also pledged to make the U.S. the “crypto capital of the planet,” highlighting his commitment to positioning the country as a global leader in the cryptocurrency sector.
In a bold move, Trump declared that he would dismiss Gary Gensler, the current Chair of the U.S. Securities and Exchange Commission, on his first day in office and appoint a new SEC Chairman. He received cheers and applause from the audience for this statement, as Gensler’s regulatory stance on crypto has been widely criticized.
Trump also criticized Democratic Party presumptive presidential nominee Kamala Harris for her anti-crypto stance and mentioned his intention to address regulations like SAB 121, which has caused challenges for U.S. banks handling cryptocurrency custody.
The former president’s shift from a critic to an advocate for cryptocurrency has been significant. While he previously expressed skepticism and concerns about digital currencies, Trump now actively embraces the industry, even becoming the first presidential candidate to accept cryptocurrency donations for his campaign.
Overall, Trump’s endorsement of cryptocurrency has the potential to reshape the political landscape and solidify his position as a key supporter of the crypto sector, setting him apart from the Democratic leadership. His remarks at the Bitcoin 2024 conference and his fundraising efforts in Nashville underline his growing influence within the crypto community as he gears up for the 2024 election.
