At the Bitcoin Conference 2024, former US President Donald Trump announced that he would fire SEC Chairman Gary Gensler on his first day if he were elected president again. This statement caused a huge stir among crypto enthusiasts and conference attendees, and highlighted Trump’s determined stance on reforming crypto regulations. Trump also reiterated his optimistic outlook on Bitcoin, increasing market interest.
Donald Trump spoke at the Bitcoin Conference
Donald Trump’s speech at the Bitcoin Conference 2024 received widespread attention from the crypto community. Criticizing the US Securities and Exchange Commission’s (SEC) targeting of Bitcoin, Trump defended Bitcoin’s financial freedom from government interference. Trump said, “The anti-crypto crusade, the oppression, and the weaponization will stop the day I assume office,” confirming that he would fire SEC Chairman Gary Gensler on his first day if elected. He also stated that he would appoint a new SEC chairman.
Trump emphasized that the new SEC chairman will be someone who supports innovation and believes in America’s future in the crypto asset space. He criticized Kamala Harris, describing her desire to make Gary Gensler the Treasury Secretary and a “low IQ individual” who is against crypto. Trump’s vision is not limited to regulatory changes. He stated his goal of making the US “the crypto capital of the planet” and a “Bitcoin superpower.” Trump said, “If crypto is going to define the future, it should be mined, minted and produced in the US. Crypto is going to the moon and I want America to lead the way.” He also predicted that Bitcoin’s market value will surpass silver and could surpass gold in the near future. This reflects his belief in crypto’s future dominance among other assets.
Trump will not implement CBDC
Donald Trump has vowed to shut down Operation Chokepoint and prevent the implementation of the Central Bank Digital Currency (CBDC) during his presidency. “As long as I am President of the United States, there will never be a CBDC and I will defend the right to self-isolate,” he said. Trump also announced plans to form a committee focused on cryptocurrencies, which he said would aim to craft forward-thinking crypto regulations that support the growth of the industry. The move is seen as a move to encourage innovation and ensure that the US remains a pioneer in the global digital economy.
Trump’s comments at the conference reflect his commitment to a pro-crypto agenda. His plans to restructure the SEC and promote Bitcoin have drawn both support and criticism. While supporters believe his approach could spur innovation and economic growth, critics see it as a strategy to win support from crypto voters.
Trump has also backtracked on his previous stance that Bitcoin poses a threat to the US dollar. He now claims that the real threat to the dollar comes not from cryptocurrencies, but from the current US government. “Bitcoin is not threatening the dollar, the current US government is threatening the dollar,” he said. This shift in perspective marks a significant shift in Trump’s views on cryptocurrencies, and could be seen as a nod to the crypto community’s growing influence in US politics.
He also spoke about BTC mining
Trump has been encouraging people to “never sell your Bitcoin.” He also stated that he would be the pro-innovation and pro-Bitcoin president of the United States. If elected, Trump announced a plan to hold US Bitcoin assets as a strategic reserve and promised to make the US a Bitcoin mining “powerhouse.” The move aims to eliminate the need for miners to relocate to China. The move aims to strengthen the country’s position within the global digital economy and support the growth of the crypto industry. Trump’s pro-crypto stance is seen as an effort to gain support from crypto voters ahead of the 2024 elections and marks a significant shift in the political landscape around crypto assets.
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