2024

Donald Trump

President Donald Trump

At the 2024 Bitcoin Conference in Nashville, former President Donald Trump unveiled a bold new vision for cryptocurrency, particularly Bitcoin, marking a significant shift in his stance. His keynote address laid out several key proposals and criticisms aimed at reshaping the <a href="https://ultramining.com/news/en/senator-lummis-pushes-for-crypto-regulation-amid-sec-lawsuits/">U.S.</a> approach to digital assets, according to <a href="https://ultramining.com/">Ultramining</a>. 
Trump proposed the establishment of a "strategic national bitcoin reserve," pledging that his administration would retain all Bitcoin currently held by the U.S. government and any future acquisitions. This aligns with the belief among Bitcoin enthusiasts that the government should not sell its <a href="https://ultramining.com/news/en/rising-mining-difficulty-squeezes-bitcoin-miners-sparks-accumulation-among-whales/">Bitcoin holdings</a>, which are currently auctioned off after seizures from illegal activities. 
He strongly criticized the Biden administration's economic policies, claiming they led to the highest inflation rates in U.S. history. Trump argued that the current government poses a greater threat to the dollar than Bitcoin does, stating, "Bitcoin is not threatening the dollar. The behavior of the current <a href="https://ultramining.com/news/en/major-bitcoin-mining-pool-foundry-usa-to-introduce-fee-structure/">US</a> Government is threatening the dollar." 
Trump vowed to dismantle what he termed the "war on crypto" initiated by the current administration. He promised to fire <a href="https://ultramining.com/news/en/bitcoin-mining-reshaping-landscape-amid-global-interest-surge/">SEC</a> Chairman Gary Gensler and establish a crypto advisory council to create favorable regulatory frameworks for the industry within his first 100 days in office. 
Expressing strong support for the rights of individual Bitcoin holders, Trump emphasized the importance of self-custody and the need for the U.S. to become the "crypto capital of the world." He also mentioned plans to facilitate the growth of crypto mining operations in the U.S. 
Trump highlighted the significant increase in Bitcoin's value during his presidency, contrasting it with the performance under Biden. He noted that Bitcoin surged from $898 to $35,900 during his administration, while under Biden, it had only increased by 50%. 
The speech was part of a broader strategy to appeal to the growing crypto voter base, as Trump seeks to leverage the support of the crypto community in his 2024 presidential campaign. This includes accepting campaign donations in cryptocurrencies, reflecting a notable turnaround from his previous skepticism towards digital currencies. 
In summary, Trump’s 2024 Bitcoin Conference speech underscored his commitment to integrating Bitcoin into the U.S. economy and regulatory framework. He proposed creating a strategic national Bitcoin reserve, criticized the current administration's economic policies, and promised significant regulatory changes to support the crypto industry. His vision includes making the U.S. a global leader in cryptocurrency and ensuring individual rights for Bitcoin holders.

Donald Trump Champions Bitcoin at 2024 Conference: A New Vision for Crypto in America

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