Former President Donald Trump announced Saturday that he plans to promote cryptocurrencies if re-elected. At a bitcoin conference in Nashville, Tennessee, he promised hundreds of enthusiastic supporters that he wants to make the US a “cryptocurrency superpower.”
Trump promised on stage that the United States would become a global center for cryptocurrencies and create a “strategic bitcoin reserve.”
Donald Trump wants to fire Gary Gensler
He has also promised that if he wins the election, he will remove Securities and Exchange Commission (SEC) Chairman Gary Gensler and form a board to focus on cryptocurrencies. He even asked the audience if anyone would like to join this board.
There will be regulations, but they will be written by those who love the cryptocurrency industry, not those who hate it. – said Trump
Trump’s stance on cryptocurrencies has changed significantly in recent years. In 2019, he criticized cryptocurrencies on social media. Nowadays, he fully supports them and is even accepting donations in cryptocurrencies for his campaign.
During the nearly 50-minute speech, Trump frequently emphasized his different approach to regulating cryptocurrencies compared to the Biden administration’s efforts to curb the industry. He said he wants cryptocurrencies to be“mined and minted” in the US.
Support for Ross Ulbricht at conference
Trump mentioned that many Americans have had their cryptocurrencies seized and that he will see to it that Ross Ulbricht’s sentence is commuted.
Ross Ulbricht is the founder of Silk Road, which was a free marketplace that accepted cryptocurrencies. Among other things, drugs were sold there. Ross was subsequently sentenced to life imprisonment. Some conference attendees expressed support for Ross and wore hats that read “Free Ross Day One.”
Tennessee Senator Marsha Blackburn called Trump’s announcement of a strategic reserve in bitcoin a “historic moment.”
Trump’s speech came a day after independent presidential candidate Robert F. Kennedy Jr. proposed the creation of a strategic reserve in BTC at the same conference. He said he would sign purchases of 500 BTC a day until the United States had 4 million bitcoin.
