Former United States President, Donald Trump, who was once a cryptocurrency skeptic, has vowed to be a “pro-bitcoin president” if elected in November. The Republican nominee is seeking support from an industry frustrated by current US regulations.
Speaking at a conference in Tennessee, Trump criticized the current administration, saying, “The Biden-Harris administration’s repression of crypto and bitcoin is wrong, and it’s very bad for our country.” He likened cryptocurrencies to the growth of the steel industry a century ago and asserted, “Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.”
Trump promised that under his administration, the US government would not sell its bitcoin holdings, describing this as forming the “core of the strategic national bitcoin stockpile.”
In a more limited proposal than that of third-party candidate Robert F. Kennedy Jr., who suggested building a stockpile of 4 million bitcoins, Trump emphasized the importance of the US embracing crypto and bitcoin technology to prevent other countries, particularly China, from dominating the sector. “If crypto is going to define the future, I want it to be mined, minted, and made in the USA,” he said.
To support cryptocurrency mining operations, Trump pledged to make US energy the cheapest “of any nation on Earth” by increasing fossil fuel production and nuclear energy. He assured that this would be done in an environmentally friendly manner, stating, “We will be creating so much electricity that you’ll be saying, ‘please, please, Mr. President, we don’t want any more electricity.'”
Trump also targeted regulatory figures, promising to fire Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), on his first day in office. “On day one, I will fire Gary Gensler!” he declared, drawing enthusiastic approval from the crowd.
In his speech, Trump also criticized Vice President Kamala Harris, who is set to replace Biden atop the Democratic ticket. He pledged to end what he described as Biden and Harris’s “anti-crypto crusade” if elected. “You’re going to be very happy with me,” he assured the bitcoin community.
As the US election approaches, Harris’s candidacy has reinvigorated the Democratic campaign, which has seen a surge in fundraising and a narrowing gap in polls against Trump. However, Republican pollster David Lee warned that Trump remains in a strong position, particularly due to the Electoral College system.
