Donald Trump, the Former President of the United States, has come a long way from his anti-crypto stance to supporting Bitcoin and the crypto industry as a whole. His tryst with crypto started sometime in 2023 with the launch of his very own line of NFTs that sold out within minutes of release. He then went on to release more collections of NFTs made in his image, portraying him in various outfits.
The 2024 United States elections have the entire crypto community glued for updates as crypto took center stage, causing a bunch of twists and turns. With the Crypto Super PAC sworn to help pro-crypto candidates win the election with their deep treasury funded by crypto supporters and industry leaders, many candidates have now become sworn supporters of blockchain-based currencies.
July 25th marked the start of the 2024 Bitcoin Conference in Nashville, with the industry’s who’s who in attendance. Many key political figures like Donald Trump, John F. Kennedy Jr., among others are in the mix. However, Donald Trump’s address has caused a significant stir among the attendants and the people watching.
Trump’s Scintillating Statements at the Bitcoin Conference
Donald Trump and drama always go hand in hand. Everything about the guy grabs attention; his demeanor and his charisma are certainly eccentric. However, the statements and the promises he made at the conference gave the community and the crypto believers in the United States hope for the future.
Trump showed his support for Bitcoin by comparing it to the early steel industry that paved the way for the revolution in the world. Steel was not the only metal Trump drew comparisons to; he compared BTC with gold and said that Satoshi Nakamoto’s brainchild, Bitcoin’s market cap, has the potential to overtake Gold, saying, “I can see it happening!” He also said, “(BTC is a) Miracle of cooperation and human achievement”
Trump took a dig at his political rivals, claiming that the current government has “Waged A War” against Crypto and Bitcoin. He said he wants to ensure that America becomes the “Crypto Capital of the planet.” Like a beast on a hunt, he tore down all the instigators of the crypto industry and even promised to fire Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission, who was appointed by the current President, Joe Biden.
The former president advocated for his campaign and stated that he would promptly establish a Bitcoin and Crypto Presidential Advisory Council; this council’s objective would be to develop transparent regulations within 100 days of Trump assuming the role of President of the United States.
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Earlier in the week, we reported that Trump would announce a Bitcoin reserve. True to our reporting, Donald Trump did go on to claim the establishment of a “Strategic National Bitcoin Stockpile.” Trump ended his address with a strong claim resonating with the community that he, “Will be the pro-innovation and Pro-Bitcoin President.”
In a powerful speech that firmly supported cryptocurrency, Donald Trump positioned himself as the preferred candidate for crypto enthusiasts and industry leaders in the United States. It is fair to say that with his strong pro-Bitcoin stance, Trump has established himself as the Bitcoin Ally.
We have seen the crypto industry come together and rally for pro-crypto candidates. Donald Trump’s presence at the 2024 Bitcoin Conference helped him gain over $4 million in Bitcoin and crypto donations for his Presidential Campaign. Will this be the turning tide in the 2024 United States Presidential elections? We shall soon find out.
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