Key Takeaways
- Trump has pledged to create a U.S. strategic Bitcoin reserve if elected.
- He promised to replace SEC Chairman Gary Gensler with a Bitcoin-friendly appointee.
- Following his speech, Bitcoin surged over 3%, hitting a six-week high.
Former President Donald Trump pledged to create a U.S. strategic Bitcoin reserve if elected in 2024, speaking at the Bitcoin 2024 conference in Nashville. Trump promised to implement Bitcoin-friendly policies, including appointing a new SEC chairman more favorable to Bitcoin.
Trump declared:
I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over.
He emphasized that the U.S. would become:
The Bitcoin superpower of the world.
Trump outlined his plans to stop auctioning the government’s Bitcoin holdings and gradually build a national reserve. He argued:
Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.
His speech received strong approval from the audience. Andrew Campbell, an attendee, expressing his newfound support for Trump, said:
I think we’ve gone too far left, and we need to snap back a little and recenter.
Additionally, Trump reiterated his commitment to pardoning Silk Road founder Ross Ulbricht on his first day in office. He claimed that Bitcoin is not a threat to the dollar, but rather:
The current U.S. government is threatening the dollar.
Following Trump’s speech, Bitcoin surged over 3%, reaching its highest price in six weeks.
Independent candidate Robert F. Kennedy Jr. also spoke at the conference, proposing a 4 million Bitcoin reserve if elected, highlighting Bitcoin’s growing significance in the 2024 campaign.
