Former President Donald Trump recently delivered a speech at the Bitcoin 2024 conference in Nashville, Tennessee, where he shared his crypto-related policies and tried to appeal to crypto voters. One of the key points he made was about Bitcoin being a symbol of cooperation and human achievement, describing it as a marvel of technology that has surpassed even ExxonMobil in size. He also commended the camaraderie among Bitcoin leaders and developers, emphasizing the importance of their friendship despite competition.
In addition to praising Bitcoin, Trump made some bold promises regarding the government’s handling of Bitcoin. He stated that if he were re-elected, he would prevent the government from selling the 210,000 BTC it currently holds and any acquired in the future. Instead, he proposed turning this government holding into a Strategic National Bitcoin Stockpile, which would benefit all Americans.
Furthermore, Trump criticized the current Biden-Harris administration, referring to it as a “fascist regime” and claiming that Vice President Kamala Harris is “against crypto.” He warned the audience that if the current administration were to win the upcoming election, they would be ruthless in their approach towards crypto and Bitcoin, potentially causing harm to the industry.
In an effort to bolster the U.S.’s position as a Bitcoin mining powerhouse, Trump announced plans to build fossil fuel-based power plants to meet the energy demands of both Bitcoin mining farms and artificial intelligence (AI). He expressed his intention to ensure that the U.S. has the lowest cost of energy and electricity globally by the end of his potential new term.
At the time of the speech, Bitcoin was ranked first by market cap, with a price decrease of 1.87% over the previous 24 hours. The total crypto market was valued at $2.42 trillion, with Bitcoin dominance standing at 55.46%. Despite Trump’s ambitious plans for Bitcoin and crypto, his stance on AI remains cautious, as he has previously referred to it as a “dangerous thing.”
Overall, Trump’s speech at the Bitcoin 2024 conference shed light on his vision for the future of Bitcoin and crypto in the U.S., emphasizing themes of cooperation, government intervention, and energy sustainability. His promises and criticisms of the current administration reflect the ongoing debate surrounding the role of cryptocurrency in politics and society.