Trump wants you to keep Bitcoin

Former US President Donald Trump declared he would ensure the federal government never sold up its bitcoin assets if he got elected

Written by: Olumide Adesina • Sunday, July 28, 2024 • 2 min read

• Last updated: Sunday, July 28, 2024

Former US President Donald Trump declared he would ensure the federal government never sold up its bitcoin assets if he got elected. He did not, however, go so far as to suggest creating an official federal reserve for virtual money.

At this year’s Bitcoin Conference in Nashville, the largest Bitcoin conference of the year, Trump at a keynote address stated.”For too long our government has violated the cardinal rule that every Bitcoiner knows by heart: Never sell your Bitcoin,” he said.

The former president’s remarks came at a time when the race for the presidency in 2024 was becoming more and more focused on who would win the votes and support of early adopters of fintech in America.

“Today, I’m outlining my strategy to guarantee that the United States emerges as the global leader in cryptocurrency and bitcoin, and we’ll succeed in doing so,” said the president.

In contrast to other ideas made at the conference, Trump’s promise to merely preserve the U.S. government’s present bitcoin holdings was a less radical appeal to the cryptocurrency crowd.

Throughout his speech, the former president highlighted differences between the strict regulatory approach that has defined the Biden administration and the Republican Party’s growing embrace of cryptocurrency.

Trump declared, “The persecution of cryptocurrencies and bitcoin by the Biden-Harris administration is wrong and very bad for our country.” “All of you will be gone if they win this election, let me tell you that. They’ll be ferocious. They’ll act brutally. They will act in ways that defy belief.

To an audience of applauding Bitcoin fans, Trump continued with a litany of crypto-friendly pledges, including destroying what he dubbed Vice President Kamala Harris and President Joe Biden’s “anti-crypto crusade.”

“I will fire Gary Gensler on day one,” Trump declared, referring to the Securities and Exchange Commission chairman, who was chosen by Biden and has adopted a tough stance on regulating cryptocurrencies.

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ABOUT THE AUTHOR See More

Olumide Adesina

Financial Market Writer

Olumide Adesina is a French-born Nigerian financial writer. He tracks the financial markets with over 15 years of working experience in investment trading.