Donald Trump Promises to Maintain a “National Strategic Reserve of Bitcoin” and “Never Sell” Seized BTC
Thousands of Bitcoin enthusiasts patiently waited for former President Donald Trump’s speech at the Bitcoin 2024 Conference in Nashville. Trump, who proclaimed himself as a pro-crypto candidate, made several promises during his address.
Firstly, he pledged to maintain a “national strategic reserve of Bitcoin” and to “never sell” the government-seized bitcoins. Additionally, he vowed to dismiss the SEC Chairman, Gary Gensler, once he takes office at the White House.
Trump’s Comprehensive Crypto Policy
After a few minutes of gratitude and casual conversations, Trump delved into the topic of the day: Bitcoin and the crypto industry. He outlined a comprehensive crypto policy that encompasses regulations for stablecoins and the right to self-custody BTC.
Trump emphasized the significance of Bitcoin by comparing it to the steel industry a century ago, stating that Bitcoin is still in its early stages. He remarked, “In just 15 years, Bitcoin has gone from a mere idea to one of the most valuable assets in the world,” and he added that Bitcoin may one day surpass gold in value.
International Competition and US Hegemony
Trump also warned about China’s increasing dominance in the crypto technology sector. He stressed the importance of embracing crypto and Bitcoin, stating that if the US fails to do so, China will seize the opportunity to dominate. To counter this, Trump pledged to double electricity production in the US, supporting technological industries and Bitcoin by using environmentally-friendly fossil fuels and nuclear energy, aiming to make the US the country with the cheapest electricity worldwide.
He concluded by proclaiming that the US will become the undisputed power in Bitcoin mining, and the national strategic reserve of Bitcoin will be maintained at 100%. Trump declared, “We will make Bitcoin and cryptocurrencies a great industry on Earth,” promising to make the US and Bitcoin “bigger, better, stronger, richer, freer, and greater than ever before.”
Support for the Bitcoin Community and Firing Gary Gensler
During his speech, Trump expressed his admiration for the Bitcoin community, calling them an “extraordinary genius” and comparing them to American pioneers. He criticized the Biden administration for its “war against cryptocurrencies and Bitcoin,” blaming it for harming the industry and the US economy. He vowed to end this repression as soon as he takes office.
If elected, Donald Trump announced that he plans to dismiss Gary Gensler, the influential Chairman of the Securities and Exchange Commission (SEC), who has faced significant criticism in the crypto industry. This promise, along with the announcement of a strategic reserve and his chant “Bitcoin to the moon,” received the most applause from the crowd. Trump declared, “I didn’t know he was so unpopular,” before reiterating his pledge to replace Gensler with a new SEC chairman who believes in building the future, rather than obstructing it.
