Donald Trump Appeared at Bitcoin 2024. What Exactly Did He Say During His Speech? Something Bitcoin Fans Really Liked.
Donald Trump on Bitcoin 2024 – Bomb or Cap?
The whole world was waiting for Trump’s speech. Or at least the part of it that invests in bitcoin. Rumors have been circulating online that he will promise that as president, he will make BTC part of the dollar reserve. Did that happen? I’ll answer right away: no. However, the Republican said other, important things.
Let me start by saying that the presidential candidate behaved in a truly royal manner. He kept us waiting for… an hour. Supposedly, the reason was the actions of the services that secured his speech. When he started speaking, he shook the Music City Center.
The most enthusiastic audience (and probably internet users who followed the event online) were the words that Trump, if he wins the power struggle, will “fire” the chairman of the Securities and Exchange Commission (SEC), Gary Gensler. What’s more, he will do it “on his first day” in office. In addition, he will establish a “presidential advisory council on bitcoin and cryptocurrencies.”
I will appoint a new SEC chairman who believes America should be building the future, not blocking it
– he promissed
It is worth adding that Gensler’s term ends in June 2026, but the new president has some “soft power” that may help him bring about the resignation of the current head of the SEC.
The aforementioned cryptocurrency advisory council will be responsible for establishing a comprehensive regulatory framework for the industry. It is set to do its job within 100 days of Trump taking office.
“No” to CBDC
It doesn’t stop there. The new administration is set to block all work on CBDC.
There will never be a CBDC as long as I am President of the United States (…)
— Trump made another promise.
In addition, he declared that he would defend the right of Americans to “self-custody,” i.e. independent, anonymous storage of cryptocurrencies.
The presidential candidate also promised to block the potential sale of more than 200,000 BTC held by the US government and seized from criminals. However, there was no promise to add bitcoins to the Fed’s reserve.
However, you may have heard that one day the capitalization of Bitcoin will be greater than the capitalization of gold.
Election rally
I have to add, however, that Trump’s speech at many points resembled another of his rallies. He attacked Joe Biden and Kamala Harris in a rather shallow way and fawned on the audience. It spoiled the whole experience a bit.
However, all of the above can be taken at face value and so can the fact that the Republican Party can end the US government’s war on the cryptocurrency industry.
