Donald Trump Promises to Establish Strategic BTC in Key Win for Crypto
If elected, GOP presidential candidate Trump reveals big plans for Bitcoin and crypto in the US.
Republican candidate for the US November election promises to build a strategic BTC stockpile while addressing the annual 2024 conference. Trump delivered the keynote address aligned with the growing reports of optimism of a pro-crypto announcement during the Bitcoin Conference in Nashville.
Trump Pledges Policy-backed Plan for BTC Hodl Strategy
Trump outlined a policy-backed plan for his administration to retain all of the government’s current BTC. Urging the Bitcoiners to adopt a hodl strategy, the Grand Old Party (GOP) candidate stressed that the government would also acquire more BTC.
The announcement by Trump came hours after Senator Cynthia Lummis disclosed the strategic Bitcoin reserve proposal. The legislator issued a press release indicating the need for the US to establish a decentralized network hosting secure Bitcoin vaults under the Treasury Department.
While it is not sure if Trump and Lummis have coordinated plans or are proposing separate Republican-backed initiatives. Nonetheless, the latter suggests the acquisition of 1 million Bitcoin.
Trump pledged to establish the national BTC reserve in his nearly 45-minute-long keynote address. Additionally, the Republican nominee vowed to halt the regulatory onslaught deployed by the Democrats that targets crypto companies and holders. The former president reiterated his willingness to refashion the US as a Bitcoin superpower.
US Aims Becoming Crypto Capital
Trump informed the packed conference room plan to transform the US into the crypto capital of the entire planet. The audience erupted in applause as Trump decried the regulatory roadblocks erected under the Biden administration. Trump lamented the regulatory hurdles plaguing crypto companies and likely to stifle innovation under the would-be Biden’s success as Democratic candidate Kamala Harris. He warned that a win for Democrats in the upcoming election would translate to a doomed context for crypto under a vicious and ruthless regime.
The initial address featured the meandering manifesto with the former president restating the usual rhetoric on immigration. Besides, he waded into the validity of the 2020 election results, though not deeply into the crypto fundamentals.
The 78-year-old politician aligned with the popular crypto slang by vowing to send Bitcoin to the moon. Also, he featured familiar talking points in the space emphasizing the need for self-custody crypto to advance personal freedom and privacy. These values constitute a critical part of the ethos of the broader Bitcoin movement.
Trump took the stage an hour behind the initial schedule and avoided crypto-affiliated talk at first. The opening remarks had Trump touch on unrelated topics, including an attack on Israel, a victim of his assassination attempt, and the political leanings of musician Billy Ray Cyrus’ daughter.
Trump decried the death of firefighter Corey Comperatore from the stray bullet targeting him during the Butler rally in Pennsylvania a fortnight ago. The former president mentioned several celebrities and politicians supporting his bid. He acknowledged internet personality Jake Paul, who alongside musician Kid Rock.
Trump hailed the input of BTC Inc. chief executive David Bailey, who is behind organizing the conference. He urged continuity in the executive input in the crypto space.
Trump’s plan to have a BTC reserve echoes the policy proposal that President Robert F. Kennedy Jr. endorsed in his July 26 address at the conference. He aimed at Trump’s shifting stance on crypto after terming Bitcoin a “scam” in 2021. He revealed in the Fox News interview his displeasure against the asset as another currency that rivals the US dollar.
Trump’s address to the conference leaves little room to doubt his present stance on Bitcoin and the entire crypto industry. The speech conforms to the pro-crypto statements since May, which turned it into a political issue in the lead-up to the November 2024 presidential election.
Trump indicated that those considering Bitcoin a threat to the US dollar have the narrative exactly backward.
