Former President Donald Trump recently spoke at a bitcoin conference in Nashville, Tennessee, where he expressed his support for cryptocurrency and outlined his plans to make the U.S. a leader in the industry if re-elected. He emphasized his desire to make the U.S. a “bitcoin superpower” and create a bitcoin reserve using the currency held by the government. Trump also mentioned his intention to remove Securities and Exchange Commission Chair Gary Gensler if elected and establish a crypto advisory council.
While Trump was not always a supporter of cryptocurrencies, he has embraced them in recent years and even began accepting donations in cryptocurrency during his campaign in May. Throughout his speech, he criticized the Biden administration’s efforts to regulate the industry and promised to write regulations with input from those who support the industry. Trump reiterated his desire for cryptocurrency to be produced and utilized within the United States.
During his address, Trump highlighted U.S. law enforcement seizures of bitcoin and promised to use the seized wealth to benefit all Americans by creating a national asset. He also pledged to commute the sentence of Ross Ulbricht, the creator of the Silk Road website, who is currently serving a life sentence for his involvement in overdose deaths. Attendees at the conference showed support for Ulbricht by wearing “Free Ross Day One” hats.
Tennessee Senator Marsha Blackburn praised Trump’s announcement of a bitcoin strategic reserve as a historic moment in the industry. Trump’s speech came shortly after independent presidential candidate Robert F. Kennedy Jr. also proposed launching a strategic bitcoin reserve. Overall, Trump’s speech at the bitcoin conference showcased his evolving support for cryptocurrencies and his vision for the U.S. to become a global leader in the field.
