At the Bitcoin 2024 conference in Nashville, former U.S. President Donald Trump made a significant announcement, pledging to establish a “strategic Bitcoin stockpile” for the United States if he is elected. Addressing a packed room of Bitcoin enthusiasts, Trump committed to retaining 100% of all Bitcoin currently held or acquired by the U.S. government.
Trump’s announcement came amid growing rumors and reports about his Bitcoin plans. He stated, “If I am elected, 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.”
Following Trump’s speech, Senator Cynthia Lummis detailed her own proposal for a “strategic Bitcoin reserve,” suggesting that the U.S. Department of Treasury would manage secure Bitcoin vaults and aim to acquire a total of 1 million Bitcoin.
While it’s unclear if Trump and Lummis are coordinating their efforts, both proposals reflect a growing interest among Republican leaders in strengthening the U.S.’s position in the cryptocurrency market.
During his keynote address, Trump promised to make the U.S. a “Bitcoin superpower” and to end what he described as the Democrats’ regulatory hurdles against cryptocurrency companies. He emphasized his vision of the U.S. becoming the “crypto capital of the planet,” a statement that was met with enthusiastic applause.
Trump criticized the current administration’s approach to crypto regulation, warning that a continued Democratic leadership would hinder innovation in the crypto space. He also touched on various unrelated topics during his speech, including recent political events and personal anecdotes.
Despite his previous skepticism about Bitcoin, Trump’s latest remarks indicate a significant shift in his stance on cryptocurrencies. He had previously labeled Bitcoin as a “scam” in a 2021 interview but now appears to embrace its potential benefits for the U.S. economy.
Trump’s plan to establish a national Bitcoin reserve aligns with similar proposals from other political figures, including Robert F. Kennedy Jr., who recently advocated for a substantial Bitcoin reserve to support the U.S. dollar.
As the 2024 presidential election approaches, Trump’s pro-Bitcoin stance and his proposals to support the crypto industry are likely to be key points of discussion among voters and policymakers.
