Another great achievement for bitcoin and crypto has happened today. President Trump made an impressive pro-bitcion and pro-crypto speech at the Bitcoin 2024 Conference in Nashville. The speech was full of substance, promise for brighter future, and encouragement for innovation. Whatever topic bitcoin and crypto enthusiasts wanted to hear from a political leader were all addressed in this speech. I highly recommend to watch the speech. While Trump promise protecting and growing the bitcoin and crypto industry in the US, he also showed great deal of knowledge about the technology, what has been happening, challenges, and shared a plan to make things better. This presidential election just became interesting. Trump campaign might the first one that officially introduced a bitcoin and crypto policy plan, and really good one it seems.
I actually thought Trump was going to be a pro-bitcoin president first time around. However that wasn't the case. Trump never hesitated to speak up against bitcoin in the past. It seems in the past Trump took bitcion as competition to USD. Today's speech shows he came into realization that bitcoin and USD are not necessarily in competition against each other. They can coexist just fine. Any problems USD may have, has nothing to do with bitcoin really. Bitcoin may actually help fiat currencies to become stronger if right policies are implemented. There have been many instances in the past when many people embraced bitcoin and crypto after having a proper understanding of what they are and what they do. There was a time when Michael Saylor also tweeted anti-bitcoin comments. Look at him now. By the way, another great speech at the conference was by Michael Saylor. I recommend watching it as well.
From the very start Trump knew what kind of crowd he was addressing to and he made sure all the concerns of bitcoiners were mentioned. Crowd went crazy and chanted "Trump, Trump, Trump" in the middle of the speech when Trump said he will fire Gary Gensler as head of SEC. It was so noticeable that he had to repeat the statement again. Trump showed clear understanding of what has been happening in crypto world in the last few year, and how SEC has been hostile to the industry and put in all the efforts to slow down the progress of bitcoin and crypto in the US. By now everybody knows how bad SEC's actions have been towards crypto. It hasn't stopped it. It would never be able to destroy bitcoin. But powerful agencies like this can slow down the progess, slow down the adoption, and slow down the innovation significantly. And that is what SEC under leadership of Gensler have done so far. Crypto world is tired of Gensler, and ready to see someone more reasonable to be in charge of the agency. Trump promised firing Gensler one of the things to do first day back in the office. He also promised to appoint a crypto friendly head of SEC. This alone is a huge win for bitcoin, this alone is a big promise for crypto world. But he had a lot more to say about bitcoin and crypto.
It was very clear that Trump was friendly to the crowd that represented bitcion and crypto world. He addressed the crowd with admiration and comparing them to famous innovators like Edison, Wright bothers, and Carnegies. He called people in the crowd high IQ individuals, repeatedly. They may have been one of Trump's rare humble moments. He expressed how he views bitcoin and crypto as an important technology and innovation. He pledged to make things easier for the industry in the US, and expressed desire to make US the crypto capital of the planet. To achieve that he plans to implement clear guidelines and regulations that are crypto friendly, he wants to create a bitcoin advisory council for the president, he wants to retain all bitcoin related jobs in the US, he wants to make electricity a lot cheaper and attractive for bitcoin mining in the US, he wants to protect self-custody rights, and more.
Trump compared bitcoin to the steel industry of 100 years ago. Wow, this sounds like a material from Michael Saylor's playbook. This comparison is big, and show that Trump has a deeper understanding of bitcoin and how it is an important innovation that will be transforming our societies, the world, and our lives. He knew the numbers. How bitcoin market cap surpassed big companies and was about to surpass silver and perhaps in the near future even gold's market cap. While showing decent understanding of the technology and innovation, and where we are heading he also mentioned how it not easy to understand.
One day it probably will overtake gold, but based on the way it's going now, it could very well be a possibility. There's never been anything like it, and I don't think you've ever seen anything like it, and most people have no idea what the hell it is. You know that, right? So what happens when they figure it out? That's going to really be something? Bitcoin is not just a marvel of technology, as you know, it's a miracle of cooperation and human achievement and a lot of relationships that are formed.
~ Donald Trump
He talked about how individuals and entities that are supposed to be competing with each other were in fact cooperating, collaborating with each other and building relationships that benefit all. That is a great observation and a complement for the crypto world. Among important points Trump made were that how bitcoin stands for freedom and property rights and how this is important and deserves attention and protection. But all points were absolutely excellent. I don't remember them all, but I am sure this will be discussed for a while.
He talked about the bitcoins the US government hold and how the number is significant. Just recently when German government was selling their bitcoin, there were rumors that US government was planning to sell a lot of bitcoins. Trump pledged to never sell all the bitcoins US government has and instead storing them a strategic reserves. US government may just become a hodler. I think this makes perfect sense and I have been saying this for a while now. These coins didn't cost US anything, they were confiscated. Might as well keep them forever, and perhaps one day they will pay of the debt. At the initial glance they may not be enough to pay off the debt, but this is a good first step. In the future US government may adopt more aggressive bitcoin investment strategy.
Michael Saylor had a great presentation with slides, showing how various investors like individuals, companies, institutions, and governments may benefit from bitcoin investments. He separated these potential investors as normal, 10% bitcoin maxi, bitcoin double maxi, bitcoin triple maxi. This was an interesting take. In one of the slides he made a case for US government to invest and depending how much it invest when it can pay off the debt, make profit, get rich, etc. At the end of the speech Trump pledged to commute the sentence of Ross Ulbricht to a sentence of time served. Trumps seems to be all in.
Topic of bitcoin and crypto now became one of the big election choice. For those who care about bitcoin and crypto, Trump showed clear roadmap and policy. I don't think anything was left unanswered within this topic. The question is how important this topic is for voters. How influential their votes are in the presidential election. While every vote counts, I don't think there are significant number of people who would vote only based on this issues. At the same time those who invested in crypto one way or the other are in tens of millions in the US if not higher. Usually bitcoin and crypto enthusiast don't care much about politics, since politicians lie and don't do much of useful things. We tend to like government just stay away from crypto and mind their own business. But perhaps this should be an important topic in elections. We have seen how hostile SEC and other US agencies can when policies are anti-crypto. One last thing, Trump even knew about operation Choke Point 2.0, and pledge to put an end to it.
This is big win for bitcoin. We will be talking about how things are changing for months if not years. While bitcoin had move upwards movement today, it wasn't anything drastic yet. I am surprised that we didn't get a new all time high today. Let me know your thoughts in the comments.
I think his comparison of Bitcoin to the steel industry is a powerful analogy. It shows real insight into its potential impact and his understanding of the value
I think firing Gensler and appointing a crypto-friendly SEC head is a huge win for the industry.
The fact that Trump tackled BTC in his first tenure makes me think that that speech might not be really written by him. However it helps us all if he isn't actually anti-crypto anymore.
Digital currency is the way in the future, physical currency not going to last long forever. Coins like BTC ,hive and hbd are the way. This is a good move. Let's hope he will this time . 🤞💪. #crypto #tothemoon. Thanks for sharing your thoughts. Have a great day and week ahead 🙏💕
sorry but trump already said he hated bitcoin and that the "dollar is stronger than ever"
“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity... Similarly, Facebook Libra’s ‘virtual currency’ will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National... and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!” - trump while actually president
so why would he change his mind now? Hes obviously just saying what he has to say, not for votes, but to excuse some scam hes got prepared with Jamie Dimon of JP morpgan, who he said hes going to put in office in charge of our central bank, in charge of the US dollar. Hes obviously getting ready for a big scam.
He wont be able to have DOMINION choose him as president unless he makes them and black rock MORE MONEY than Joe Biden/ Kamala Harris would have. Honestly, if trump is going to use hive, i bet democrats will. i bet democrats will use hive for public schools beforer republicans ever touch it
seriously who do you think would actually find a public sector educational blockchain like a PBS for hive in every city council for every citizen? That sounds lie a democrat big government spending socialism to me, republicans would never use hive. but democrats will. sorry.
"You won't have to vote anymore"
Can anything be clearer? You're enthused about a promise? What is a promise? He is also promising that this will be the last vote. Even if he kept his promise about Bitcoin...and why should he? since he has expressed an aversion to it in the past, is it worth what he is promising he will take away?
It is a normal political talk. Vote for me I will fix everything. Those are empty talks indeed and I don't trust any of the politicians.
However, the bitcoin friendly promise seems genuine. Because it makes sense, it is simple to do, and benefits everybody, doesn't cost government anything. Even if these promises aren't delivered, this is the best promise we have seen so far. There aren't anybody else even hinting anything close to this.
Sure it seems genuine. All else is cheap talk except the parts that I wish were true. LOL
I remember sometime ago when Trump said he never liked BTC so I don’t believe him
I feel he’s faking all these things he’s saying so that we can vote for him
Aren't people allowed to change their minds. They do all the time. So did Trump, it seems.
just fishing for voters, he will do 0% of the above
He could have pardoned Ross in his first term as president. Why didn't he do it back then?
Bitcoin needs to be a means to pay taxes, else Trump needs to spend even more taxpayers money (US is basically broke) to obtain more bitcoin.
Crypto is just a voting block for trump, no valuable ideal.
Sure it may just be transactional and all he wants is votes. Nothing wrong with that. That is what campaigning is about. I don't think these are empty promises though. I do believe he actually would implement the promises. They are complicated and actually good. Other politicians can do the same. They don't, because they don't think crypto voting block is big enough.
I think Trump wants to embed the spare dollar, which was printed during pandemic, in in cryptos.
The future is here and now. Digital currency will soon be use nationwide by nations
I don't think he ever intends to make good on this promise. Too many endorsements from large banks and corporate tycoons who would oppose him. Nice idea tho. But it doesn't matter anyway. Kamala is showing higher ratings, so I guess maybe we'll see if her cabinet has an interest in this matter.
I’m not a family member of Trump but I don’t trust him. I don’t believe that he will do any of those things but if he eventually does so, it means he’s a real man indeed
I really hope he holds on to his promise of a brighter future for crypto currency.
It's a good news to everyone in the crypto world. 😊
Cryptocurrency has come to stay and there is nothing anyone can do..
Its good to know he supports BTC. Lets wish he carries it through !
Que fuerte 💪🏻 holdBTC tothemoon 2025 👏
Don't forget to dump it all in 3.9 years when his term finishes and Gensler gets re-hired 😀
lol. Actually it doesn't matter who the presidents are, who is leading SEC, etc. Politicians change and do what they do. Bitcoin doesn't care. It just keeping going, and going up. Bitcoin's success it completely its own. Power of decentralized.
I know, it was tongue in cheek.., anything to get voted in.
It's nice to see that some of them are finally going to support BTC and crypto, but I wonder just how much he can get done. After all, I think he said that he would keep Powell and I don't think people like Gensler will still be around. Either way, I think it's a win for us in the crypto space.
he already said bitcoin is for criminals in his tweet WHILE ACTUALLUY PRESIDENT
I think people can change their position over time. I see this more as a way of him moving from anti-crypto to neutral.
we all know trump is a businessman. seems like he have bought a lot of bitcoin during the dip.
I wouldn't be surprised.
Trump is not your conventional politician and entrepreneur. He appears shrewed often times and hated because of he would say what he feels and think is right without worrying about backlash from the other side.
Conventional business people and politician fear and hate cryptocurrency because they will lose control of the people's money.
This is great news.
Once they become politicians they all are same. All games.
Is this the sure illumination crypto desires? To have the backing of the United States government behind crypto is a good sign
Glad to know that!
Interesting article. Don't you think this is just populistic talk to get some votes? But anyway if the price goes up this is good, right.
It's good to know/see both the presidential candidates are pro bitcoin and it's a win-win situation for us, whoever wins.
I don't think Harris is pro-bitcoin. Is she?
Yes may be, i have read it somewhere
Truth be told may the world of crypto currency be well known to all through this
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