Trump Calls for US to be ‘Crypto Capital of the Planet’ in Appeal to Nashville Bitcoin Conference
NASHVILLE, Tenn. (AP) — In a bold and enthusiastic address at the Bitcoin 2024 conference, former President Donald Trump outlined his vision for a future where the United States leads the world in cryptocurrency innovation. Speaking to a crowd of passionate supporters, Trump declared his intention to transform the U.S. into the “crypto capital of the planet” if he secures a second term in office.
Embracing Cryptocurrency
Trump's keynote speech marked a significant shift in his stance on digital currencies. Once skeptical, he now champions the potential of cryptocurrencies, particularly Bitcoin. He proposed the establishment of a Bitcoin “strategic reserve,” leveraging the digital assets currently held by the government. This initiative aims to solidify the U.S. position as a global leader in the cryptocurrency space.
Regulatory Changes
A key component of Trump’s plan involves overhauling the regulatory landscape surrounding cryptocurrencies. He pledged to remove Securities and Exchange Commission Chair Gary Gensler, signaling a desire for a more favorable regulatory environment. “We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry,” Trump asserted, promising to create a crypto advisory council to guide policy.
Contrasting with the Biden Administration
Throughout his nearly 50-minute address, Trump contrasted his pro-crypto stance with the Biden administration's regulatory efforts, which he claimed were stifling innovation. He emphasized the need for cryptocurrency to be “mined, minted, and made” in the United States, positioning his vision as a pathway to economic growth and technological advancement.
Acknowledging Past Mistakes
Trump also addressed the historical context of his previous skepticism towards cryptocurrencies. In 2019, he expressed concerns about their volatility and value. However, he has since embraced the digital currency, with his campaign accepting cryptocurrency donations since May. This evolution reflects a broader acceptance of cryptocurrencies within the political landscape.
A Call to Action
In a poignant moment, Trump referenced U.S. law enforcement's seizure of Bitcoin, framing it as an injustice against the community. He reiterated his commitment to transforming cryptocurrency into a national asset that benefits all Americans. Additionally, he made headlines by promising to commute the sentence of Ross Ulbricht, the creator of the Silk Road, a move that resonated with many attendees who wore “Free Ross Day One” hats.
Support from Political Allies
Tennessee’s U.S. Senator Marsha Blackburn hailed Trump’s announcement of a Bitcoin strategic reserve as a “historic moment.” The excitement in the room was palpable, with nearly 800 attendees eager to hear Trump’s vision for the future of cryptocurrency in America.
As the conference unfolded, independent presidential candidate Robert F. Kennedy Jr. also addressed the audience, advocating for a strategic Bitcoin reserve, highlighting the growing political interest in the cryptocurrency sector.
In conclusion, Trump’s address at the Nashville conference not only showcased his newfound enthusiasm for cryptocurrency but also set the stage for a potential shift in U.S. policy towards digital currencies. As the 2024 election approaches, the implications of his proposals could significantly impact the future of cryptocurrency in America.