Trump’s Goal: To Establish US as Global Crypto Hub, ‘We Will Succeed’
Former President Donald Trump made a case for a strategic national crypto stockpile at a recent Bitcoin Conference, where he emphasized that if he were to reclaim the presidency, the U.S. government would maintain its Bitcoin BTC/USD holdings.
During his keynote address at the Bitcoin Conference in Nashville on Saturday, Trump put forth the proposal.
His comments come amidst the 2024 presidential race, where the campaign to gain support from America’s leading fintech proponents is gaining momentum.
Trump’s suggestion to hold onto the U.S. government’s current Bitcoin holdings seems comparatively moderate compared to other suggestions brought forth at the conference, according to CNBC.
“For too long, our government has disregarded the fundamental rule cherished by every Bitcoin enthusiast: Never part with your Bitcoin,” remarked Trump during his keynote speech at the conference.
“This afternoon, I am outlining my strategy to ensure that the United States becomes the global hub for crypto and the supreme power in the world of Bitcoin, and we will achieve it,” he added.
On a different note, during the crypto conference, Robert F. Kennedy Jr., a third-party candidate, committed to creating a reserve of 4 million Bitcoin, commencing with the U.S. government’s current Bitcoin holdings acquired through criminal seizures.
Meanwhile, Sen. Cynthia Lummis (R-Wy.) proposed gathering an official U.S. federal reserve of 1 million Bitcoin within five years.
Trump criticized the Biden-Harris administration’s approach to cryptocurrency and Bitcoin, claiming, “The Biden-Harris administration’s suppression of crypto and Bitcoin is misguided and detrimental to our country.”
He further promised to establish a “Bitcoin and crypto presidential advisory council” and vowed to dismantle what he deemed as the “anti-crypto campaign” of Biden and Harris.
Trump’s stance on Bitcoin has noticeably shifted since his time in the White House, where he previously dismissed Bitcoin and other cryptocurrencies.
His recent advocacy for the digital currency aligns with the Republican Party’s commitment to eliminate the regulatory barriers imposed by the Biden-Harris administration, making crypto regulation a significant voting issue for the upcoming November elections.
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