Former president Donald Trump told hundreds of enthusiastic crypto supporters on Saturday that he wants the United States to become a “bitcoin superpower” if reelected, outlining his plans to fully embrace cryptocurrency if elected again.
The Republican presidential candidate made a bold promise during his keynote speech at a bitcoin conference in Nashville, Tennessee. He expressed his intention to transform the United States into the “crypto capital of the planet” and establish a bitcoin “strategic reserve” with the money that the government already owns.
In addition to pledging to establish a crypto advisory council and remove SEC Chair Gary Gensler upon election, he teased the audience by asking if anyone was interested in joining.
He assured the industry that rules would be drafted by individuals who genuinely care about it, rather than those who harbor animosity toward it.
In May, his campaign started accepting cryptocurrency donations, continuing his embrace of the digital currency in recent years.
At various points throughout his nearly 50-minute speech, Trump tried to draw a comparison between his stance on cryptocurrencies and the attempts to regulate them by the Biden administration, accusing the federal government of being “blocking your way.” It was Trump’s stated goal to have American companies “mine, minted and made” cryptocurrency.
The former president tried to win over bitcoin supporters by bringing up the fact that the digital token had been seized by U.S. law enforcement.
“They removed it from your possession,” he remarked. “Today, I reiterate my commitment to commute Ross Ulbricht’s sentence as I move forward with plans to turn that enormous fortune into a lasting national asset for the benefit of all Americans.”
Ulbricht launched the dark web marketplace Silk Road for illegal drugs, but a judge found him guilty of six overdose deaths associated with the site and handed down a life sentence. As a protest against Ulbricht’s incarceration, a few of the approximately 800 people who gathered in downtown Nashville to listen to Trump’s speech sported “Free Ross Day One” caps.
Trump’s declaration of a bitcoin strategic reserve was hailed by Tennessee Senator Marsha Blackburn as a “historic moment.”
Independent presidential candidate Robert F. Kennedy Jr. spoke at the conference the day before Trump did, and he, too, proposed the establishment of a strategic bitcoin reserve.
