Former President Trump took center stage at the world’s largest cryptocurrency conference, a strategic move aimed at presenting himself as the presidential candidate who can safeguard the industry from excessive federal oversight. report from CNN.
Addressing an audience of over 10,000 at the 2024 Bitcoin Conference in Nashville, the Republican nominee for president proclaimed that under his leadership, the United States will be a crypto capital.
“The United States will be the crypto capital of the planet and the Bitcoin superpower of the world if I win a second term in the White House,” he said on Saturday, July 27, as reported by BBC.
“If Bitcoin is going to the Moon — as we say — it’s going to the Moon, I want America to be the nation that leads the way,” Trump declared, asserting that the digital currency’s value could exceed that of gold with him at the helm.
Trump also vowed to end what he termed President Biden and Vice President Kamala Harris’ “war on crypto.”
He further promised to fire Securities and Exchange Commission Chairman Gary Gensler, who has been spearheading regulatory actions against digital currency, drawing cheers from the crowd.
“For three and a half years, the current administration has waged a war on crypto and Bitcoin like nobody’s ever seen before,” Trump stated.
His pledge to remove Gensler from office if re-elected drew enthusiastic applause from the event attendees.
Trump also promised to establish a Bitcoin and crypto presidential advisory council to regulate the industry, emphasizing that it would be governed by individuals who are passionate about and supportive of the industry.
But this was a major u-turn, considering that Trump was a vocal critic of the crypto market during his presidency, calling the US Dollar the only real currency in 2019, he has since embraced digital currency.
His campaign started accepting donations in cryptocurrency in May, the same month he labeled himself a “crypto candidate.”
Trump’s running mate, Senator JD Vance of Ohio, has backed pro-crypto legislation and is a Bitcoin stakeholder. Vance, a former venture capitalist, introduced pro-crypto bills.
Meanwhile, independent presidential candidate Robert F. Kennedy Jr. spoke to the conference attendees on Friday, revealing he has most of his wealth in Bitcoin.
Cryptocurrency advocates are optimistic that Trump’s return to the White House would help Bitcoin gain wider acceptance.
“RFK did impress me, but I like what I’m hearing from Trump,” said Benjamin Beach, a law student from North Carolina.
“The main thing with Trump is we have to make sure he follows through on his promises, and we have to hold him accountable as bitcoiners.”
Elsewhere on Saturday, Pennsylvania Governor Josh Shapiro campaigned in the Keystone State for Kamala Harris, the Democratic presidential nominee, as she seeks to solidify her position ahead of the November election.
Harris, replacing Biden on the ticket, is working to choose a running mate, with Shapiro considered a strong contender.
Arizona Senator Mark Kelly and Minnesota Governor Tim Walz are also potential vice-presidential picks, with Harris expected to announce her choice by August 7.
