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Trump Promises Strategic Bitcoin Reserve at Bitcoin 2024 Conference
Trump Promises Strategic Bitcoin Reserve at Bitcoin 2024 Conference
Republican presidential candidate and former US President Donald Trump announced his intention to create a “strategic stockpile of Bitcoin” for the United States during his keynote speech at the White House. Bitcoin 2024 conference in Nashville. Speaking to a room full of Bitcoin enthusiasts, Trump’s statement came after a week of rumors and reports about his Bitcoin plans, though his announcement remained somewhat vague.
“As part of the final part of my plan today, I am announcing that if elected, it will be the policy of my administration, the United States of America, to retain 100% of all Bitcoin that the United States government currently holds or acquires into the future,” Trump said.
In his 45-minute opening remarks, Trump promised to end what he described as the Democrats’ regulatory crackdown on cryptocurrency companies and holders. If elected, he promised to transform the United States into a “Bitcoin superpower.” His statement, “I’m laying out my plan to ensure that America is the cryptocurrency capital of the world,” was met with enthusiastic applause from the audience.
Trump warned that the regulatory challenges facing cryptocurrency companies under the Biden administration would persist if his likely Democratic opponent, Kamala Harris, is elected. [the Democrats] “If you win this election, every single one of you will be eliminated,” he told attendees. “They will be cruel. They will be ruthless.”
Trump’s proposal to create a bitcoin reserve also mirrors a policy endorsed by Robert F. Kennedy Jr. In a recent speech, Kennedy proposed that the federal government acquire enough bitcoin to equal the value of the nation’s gold reserves. Kennedy criticized Trump’s change of heart on cryptocurrencies, but acknowledged the potential of a national bitcoin reserve.