Trump Says US Will Become 'global crypto capital'
Donald Trump has promised to transform America into a "bitcoin superpower" should he secure victory in the presidential election this November. Read Full Article at RT.com.
TroibNews 
Former President Donald Trump has pledged to establish a bitcoin “strategic reserve” if he secures victory in the upcoming November election.
As the US Republican presidential nominee, Trump declared his intention to make America “the crypto capital of the planet” during his address at this year’s Bitcoin Conference in Nashville on Saturday, emphasizing the importance of cryptocurrency in his vision for the future.
He committed to ensuring that the US government will not sell its bitcoin holdings and will create a bitcoin “strategic reserve,” suggesting that the cryptocurrency could potentially surpass gold’s $16 trillion market capitalization.
“For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin… 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 asserted.
“If I am elected, it will be the policy of my administration… to keep 100% of all the bitcoin the US government currently holds or acquires into the future. This will serve, in effect, as the core of the strategic national bitcoin stockpile,” he added.
Trump, who in 2019 described bitcoin as having a value “based on thin air” and cautioned in 2021 that cryptocurrencies posed a “disaster waiting to happen,” has shifted his stance during the current election campaign. His campaign began accepting cryptocurrency donations in May.
During his speech in Nashville, Trump stated that if elected, the US “will have regulations” on cryptocurrency, but emphasized that “from now on the rules will be written by people who love [crypto] industry, not hate [it].”
“If bitcoin is going to define the future, I want it to be mined, minted and made in the US… If bitcoin is going to the moon, I want America to lead the way,” he remarked.
Throughout his address, Trump contrasted his support for cryptocurrency with the present administration’s attempts to “block” the industry, criticizing such repression as “really bad for our country” and “quite un-American.”
According to a report from Forbes, which cited official data, the US currently possesses approximately 212,000 seized bitcoins valued at around $15 billion. Following Trump’s speech, Wyoming senator Cynthia Lummis, a Republican, introduced a bill that would direct the US Treasury to accumulate an official federal reserve of 1 million bitcoins, approximately worth $70 billion, over a five-year timeframe.
Ahead of Trump’s address, Michael Saylor, the founder of MicroStrategy, predicted that the price of bitcoin could escalate to $49 million per token by 2045, potentially elevating its market capitalization to nearly $100 trillion.
Anna Muller contributed to this report for TROIB News
As the US Republican presidential nominee, Trump declared his intention to make America “the crypto capital of the planet” during his address at this year’s Bitcoin Conference in Nashville on Saturday, emphasizing the importance of cryptocurrency in his vision for the future.
He committed to ensuring that the US government will not sell its bitcoin holdings and will create a bitcoin “strategic reserve,” suggesting that the cryptocurrency could potentially surpass gold’s $16 trillion market capitalization.
“For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin… 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 asserted.
“If I am elected, it will be the policy of my administration… to keep 100% of all the bitcoin the US government currently holds or acquires into the future. This will serve, in effect, as the core of the strategic national bitcoin stockpile,” he added.
Trump, who in 2019 described bitcoin as having a value “based on thin air” and cautioned in 2021 that cryptocurrencies posed a “disaster waiting to happen,” has shifted his stance during the current election campaign. His campaign began accepting cryptocurrency donations in May.
During his speech in Nashville, Trump stated that if elected, the US “will have regulations” on cryptocurrency, but emphasized that “from now on the rules will be written by people who love [crypto] industry, not hate [it].”
“If bitcoin is going to define the future, I want it to be mined, minted and made in the US… If bitcoin is going to the moon, I want America to lead the way,” he remarked.
Throughout his address, Trump contrasted his support for cryptocurrency with the present administration’s attempts to “block” the industry, criticizing such repression as “really bad for our country” and “quite un-American.”
According to a report from Forbes, which cited official data, the US currently possesses approximately 212,000 seized bitcoins valued at around $15 billion. Following Trump’s speech, Wyoming senator Cynthia Lummis, a Republican, introduced a bill that would direct the US Treasury to accumulate an official federal reserve of 1 million bitcoins, approximately worth $70 billion, over a five-year timeframe.
Ahead of Trump’s address, Michael Saylor, the founder of MicroStrategy, predicted that the price of bitcoin could escalate to $49 million per token by 2045, potentially elevating its market capitalization to nearly $100 trillion.
Anna Muller contributed to this report for TROIB News
