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At the Bitcoin 2024 Conference held in Nashville, former US President Donald Trump delivered a keynote speech that drew the attention of the cryptocurrency investor community. This was the first time a former US President attended a Bitcoin community event, marking a memorable milestone in the industry.
In his nearly hour-long speech, Mr. Trump pointed out the decline of the US under President Biden, especially in the field of cryptocurrencies and Bitcoin. He pledged that if re-elected, he would support the cryptocurrency industry by reducing energy costs to attract miners and turn the US into a global Bitcoin hub.
Trump also talked about the potential for Bitcoin to surpass gold in the future. He noted that the early part of his term (2017-2021) was the period when Bitcoin grew the most, and pledged to support the Bitcoin community to replicate that success in the next four years.
A highlight of Trump’s speech was his criticism of the US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, along with his promise to fire Gensler if he is re-elected. This statement received enthusiastic support from the cryptocurrency community. Trump also pledged to end “Operation Choke Point 2.0,” a policy that has been criticized by the cryptocurrency community.
In addition, Mr. Trump announced his intention to create a national Bitcoin reserve from the Bitcoin currently held by the US Department of Justice. He also promised to create a Bitcoin and cryptocurrency advisory council, discourage the issuance of central bank digital currencies (CBDCs), and support stablecoin businesses. Additionally, he called for the release of Ross Ulbricht, the founder of the dark web Silk Road.
Mr. Trump’s speech has attracted significant attention in the cryptocurrency community, promising to have a lasting impact on the market and policies related to cryptocurrencies in the coming time.
