Donald Trump warned that if Vice President Kamala Harris is elected president, bitcoin investors will be ruined. He said that Democrats want to drive crypto investors out of this business, but we will not let this happen.
Former President Donald Trump has promised to make America a ‘bitcoin superpower’ upon his return to the White House. He has said that he will prepare regulatory guidelines for the cryptocurrency industry and appoint an advisory council for this work. At the Bitcoin 2024 Conference in Nashville, Trump made several statements in support of cryptocurrency. He promised to fire Securities and Exchange Commission Chairman Gary Gensler and create a ‘strategic national bitcoin reserve’.
Let us tell you that this is a big change in Donald Trump’s stance on cryptocurrency, because while he was president, he refused to accept bitcoin as a currency. Criticizing cryptocurrency, he had said that it has a lot of volatility. 78-year-old Donald Trump said in his address during the recent conference, ‘I have made my plan to ensure that the United States is recognized as the cryptocurrency capital and bitcoin superpower of the world.
I want America to become the crypto capital of the world: Trump
Bitcoin is the world’s first widely adopted cryptocurrency. It allows secure and seamless peer-to-peer transactions over the Internet. He also warned that if Vice President Kamala Harris is elected president, bitcoin investors will be ruined. He said that Democrats want to drive crypto investors out of this business, but we will not let this happen. The former president said that if crypto is going to define the future, then I want America to be its center. He assured that the people who support the crypto industry will formulate its rules, which aim to bring clarity and fairness in this industry.
Donald Trump, addressing the Bitcoin 2024 Conference, the largest annual gathering of the cryptocurrency industry, at the Music City Center in Nashville, said, “They (Democrats) want to strangle you. They want to put you out of business. We will not let that happen. And now your government will not stand idly by watching bitcoin jobs and businesses go to other countries. Because the US laws are too vague and too harsh. We will keep every single job in the bitcoin industry in the United States, not let them go out of the country.” Trump is the first presidential candidate to address an annual cryptocurrency conference.
Supporters of crypto will make rules for it: Trump
He said, ‘I am proud to be the first US presidential candidate to address a bitcoin conference anywhere in the world. If crypto is going to define the future, I want the idea, implementation and creation to be done in the United States. We will have rules, but from now on, the rules will be written by people who love your industry, not hate your industry. People who want to make it clear and simple, straightforward and fair. People who want to see your industry flourish, not sink.’
Trump also said that he would put an end to the US government’s efforts to create a Central Bank of Digital Currency (CBDC). Cryptocurrency investors have long been criticizing this initiative. He said, ‘I will order the Treasury Department and other federal agencies to stop all efforts to discourage the crypto industry, because something is going on in your industry. The current government wants to create a Central Bank of Digital Currency. CBDC will never be created while I am the President of America. I will always protect the right to self-custody. You will have a great industry, and we are going to be the fuel for your industry.’