Former President Donald Trump made headlines at the Bitcoin 2024 event in Nashville, Tennessee, where he announced his plans for the cryptocurrency industry if he were to be re-elected as president. Speaking to a crowd of industry heavyweights, Trump declared that on his first day back in office, he would fire the chairperson of the US Securities and Exchange Commission (SEC), Gary Gensler.
The audience erupted in cheers and chants of “Trump” as the former president outlined his vision for the sector, promising to make the US the cryptocurrency capital of the world. This marks a significant shift from his previous stance in 2021 when he called Bitcoin a “scam” that affected the value of the US dollar.
Trump also revealed his plans to keep 100% of Bitcoin held by the US government, creating a “national Bitcoin stockpile,” and to appoint a Bitcoin and crypto presidential advisory council. He emphasized the need for power to mine cryptocurrency, stating that he would build power plants using fossil fuels to meet the demand.
The event also saw support from other tech leaders, including Tesla founder Elon Musk and the Winklevoss twins, who have endorsed Trump’s campaign. Trump highlighted that his campaign now accepts cryptocurrency donations, with $25 million received in just two months since allowing crypto transactions.
The former president framed cryptocurrency regulation as a partisan issue, accusing the Biden administration of being “anti-crypto.” Several Republican lawmakers, including Senators Tim Scott and Tommy Tuberville, attended Trump’s speech, along with former Republican presidential candidate Vivek Ramaswamy.
On the other side, Democratic congressman Wiley Nickel and lawmakers Robert F Kennedy Jr and Ro Khanna also spoke at the event, with Nickel praising Vice President Kamala Harris for her forward-looking approach to digital assets and blockchain technology.
Overall, Trump’s speech at Bitcoin 2024 showcased the growing importance of cryptocurrency in the political landscape, with the former president positioning himself as a champion for the industry’s growth and development.