
During the 2024 Bitcoin Conference in Nashville, President Donald Trump delivered a keynote speech promising to end what he called the Biden administration’s “anti-crypto crusade” if he is reelected. Trump’s speech marked a significant shift in his stance on digital currencies.
“The Biden-Harris administration’s repression of crypto and bitcoin is wrong and it’s very bad for our country,” Trump stated. “Let me tell you if they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things that you wouldn’t believe.”
Trump assured the audience that the federal government would not sell its Bitcoin holdings. “For too long, our government has violated the cardinal rule that every Bitcoiner knows by heart: Never sell your Bitcoin,” he emphasized.
He laid out his plan to make the United States the leading nation in cryptocurrency. “This afternoon I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the Bitcoin superpower of the world, and we’ll get it done,” Trump announced.
The Biden administration has been active in regulating Bitcoin and other cryptocurrencies and has even suggested the implementation of a US Central Bank Digital Currency, a move opposed by many Republicans in Congress.
Trump outlined several key initiatives he would pursue if reelected. These include the immediate firing of Securities and Exchange Commission (SEC) Chairman Gary Gensler, who has been a proponent of stricter regulations on cryptocurrencies.
Additionally, Trump proposed the creation of a Bitcoin and Crypto Presidential Advisory Council, stating, “The rules will be written by people who love your industry, not hate your industry.”
During his first presidency, Trump was not favorable towards cryptocurrencies, famously stating in 2019 that he was “not a fan” of Bitcoin and believed its value was “based on thin air.” However, he has since changed his view, declaring in his speech that Bitcoin “stands for freedom, sovereignty, and independence from government coercion and control.”
Trump’s remarks at the conference highlighted his commitment to reversing the current administration’s policies on digital currencies and positioning the United States as a leader in the global crypto industry.