President Donald J. Trump Promises to Make US a Bitcoin “Superpower”
President Donald J. Trump has vowed to make the US a Bitcoin “superpower” and maintain its lead over competitors like China.
If elected, Trump pledges to never sell the roughly 200,000 Bitcoin the US government holds, representing about 1% of the total supply.
“Too long the US government has violated the cardinal rule of Bitcoin — never sell.”
Trump also plans to fire SEC chair Gary Gensler on day one and appoint a new head who supports innovation. He criticizes Vice President Kamala Harris for allegedly planning to make Gensler the Treasury Secretary.
Trump condemns the Biden-Harris administration for its anti-crypto stance and vows to end their “war on crypto.” He plans to appoint a Presidential crypto advisor to promote progress in the industry.
Trump emphasizes the importance of crypto in geopolitics and promises to make the US a leader in adoption.
“If we don’t adopt crypto and Bitcoin, others will…”
He also aims to make the US a Bitcoin mining powerhouse by ensuring access to cheap electricity and ending the electric car mandate.
Trump plans to commute Silk Road founder Ross Ulbricht’s sentence to time served.
Praise for Bitcoin
Trump praises Bitcoin as an asset class, predicting it may one day surpass gold in value.
“One day it probably will takeover gold… You’ve never seen anything like it.”
He acknowledges Bitcoin’s influence globally and its role in fostering cooperation among people.
“[Bitcoin] is not just a marvel of technology… it’s a miracle of cooperation and human achievement.”
Editor’s note: This is a developing story and will be updated as Trump makes further announcements during his speech, which is still live as of press time.
