Donald Trump, speaking at the Bitcoin 2024 conference, promised to fire SEC Chair Gary Gensler, retain all government-held bitcoin, and end anti-crypto policies if elected in November.
What’s the significance: Donald Trump, speaking at the Bitcoin 2024 conference, promised to fire SEC Chair Gary Gensler, retain all government-held bitcoin, and end anti-crypto policies if elected in November.
- This is a significant shift in political attitudes towards crypto, with Trump aligning himself as a pro-bitcoin candidate, a stark contrast to previous administrations (even his own in 2016).
The numbers:
- Trump said the U.S. government holds 213,000 bitcoin worth nearly $14.5 billion.
- Bitcoin price fluctuated between $66,600 and $68,500 during Trump’s speech.
What is Trump saying:
On strategic bitcoin reserves:
“It will be the policy of my administration…to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.”
On Gary Gensler:
“I will replace SEC Chair Gary Gensler if elected.”
On stance on bitcoin:
“I will be the pro-innovation and pro-bitcoin candidate that America needs and that our citizens deserve.”
Trump’s rhetoric aims to appeal to crypto enthusiasts and industry leaders frustrated with current regulatory approaches.
- However, critics warn that politicizing cryptocurrency could lead to volatility and unforeseen regulatory challenges.
What’s next:
- The crypto community awaits the position of presumptive Democratic nominee Kamala Harris on crypto.
- Read more:
This article is published on BitPinas: Trump Vows to Make U.S. the Crypto Capital, Fire SEC Chair Gensler if Elected
What else is happening?
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