Who is Donald Trump: Friend or Foe of the Crypto Revolution in the US?
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Key Takeaways
Former President Donald Trump aims to reposition himself as a pro-cryptocurrency leader, speaking at the Bitcoin 2024 conference as part of his campaign strategy.
VP Harris chose not to attend the Bitcoin 2024 conference, raising questions about her views on cryptocurrencies.
The contrasting decisions by Harris and Trump underscore different political approaches to cryptocurrency, highlighting its significance in U.S. elections.
The Bitcoin 2024 conference in Nashville wrapped up dramatically on Saturday with a 51-minute speech by former President Donald Trump, who highlighted his commitment to a “pro-Bitcoin” and “pro-innovation” stance if reelected in November.
Trump stressed the importance of nurturing an environment that encourages new ideas and supports the aspirations of the American people.
His speech underscored a clear directive toward fostering innovation and rejecting censorship in the technological realm.
Trump Pledges Crypto Reforms, US Bitcoin Reserves in Nashville
In his address, Trump also made several bold promises, including his intention to dismiss U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler and to commute the life sentence of Silk Road founder Ross Ulbricht on his first day back in office. Trump stated:
“On day one, I will fire Gary Gensler. And we’ll appoint a new SEC chairman, who believes America should build the future, not block the future, which is what they’re doing.”
Adding to his pro-crypto pledges, Trump proposed the creation of a Strategic National Bitcoin Stockpile, asserting that under his leadership, the U.S. would retain its current holdings of Bitcoin (BTC)—valued at over $5 billion from legal seizures—to reinforce national financial strategy.
This move, he suggested, would secure the U.S.’s position as a major holder of Bitcoin on the global stage.
Harris Skips the Conference
Vice President Kamala Harris declined an invitation to speak at the Bitcoin 2024 conference in Nashville, leaving many wondering about her position on cryptocurrencies.
Trump’s participation contrasts sharply with Harris’s absence, highlighting differing approaches to crypto engagement between the two political figures. This development comes amid a growing discussion about the role of digital assets in political campaigns and governance.
Trump’s appearance at the event marks a significant pivot from his previous stance in 2019, when he expressed skepticism about the legitimacy and stability of cryptocurrencies. “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he wrote on Twitter back then.
