Former U.S. President Donald Trump, the Republican presidential candidate. [Image source=AFP Yonhap News]
Donald Trump, the former U.S. president and Republican presidential candidate, stated that if he wins re-election, he will actively promote the cryptocurrency industry and ease the regulations imposed by the Biden administration.
On the 27th (local time), at the 'Bitcoin 2024 Conference' held in Nashville, Tennessee, former President Trump said, "I will make the United States the cryptocurrency capital of the world and a global Bitcoin superpower."
He said, "My administration's policy will be to hold 100% of the Bitcoins currently owned or acquired in the future by the U.S. government," adding, "This is essentially the core of the United States' strategic Bitcoin reserves."
He mentioned that the federal government currently holds nearly 210,000 Bitcoins, which accounts for 1% of the global supply. He added, "However, for too long, our government has broken the basic rule known to every Bitcoin investor," explaining, "That rule is to never sell Bitcoin."
He also compared cryptocurrency to the steel industry from over 100 years ago and said he would ensure that cryptocurrencies are mined and produced in the United States, not other countries. He continued, "If we do not embrace cryptocurrency and Bitcoin technology, China and other countries will, and they will dominate. We cannot let China take control."
He predicted that Bitcoin's market capitalization will surpass not only silver but also gold. He said, "Bitcoin is going to the moon, and I want the United States to be the leading country on that path."
Former President Trump criticized the Biden administration's cryptocurrency regulations, saying, "Over the past three and a half years, the current administration has waged a war against cryptocurrency and Bitcoin like no one has ever seen."
He stated, "Bitcoin means freedom, sovereignty, and freedom from government control," and added, "The Biden-Harris administration's crackdown on cryptocurrency and Bitcoin is wrong and very harmful to our country."
He also announced plans to establish a Bitcoin Presidential Advisory Committee to create transparent regulatory guidelines that benefit the entire industry. He said, "We will regulate, but from now on, the rules will be made by those who love your industry."
Furthermore, he said that during his term, the central bank will never issue a digital currency, explaining, "Bitcoin and cryptocurrencies will soar beyond your expectations more than ever."
Former President Trump also stated that on his first day in office, he will fire Gary Gensler, chairman of the Securities and Exchange Commission (SEC), and appoint a new SEC chairman.
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