Donald Trump, the former President, announced his intentions to fully embrace cryptocurrency if he were to be re-elected. Speaking to a crowd of enthusiastic supporters of digital tokens, he expressed his desire for the United States to become a "bitcoin superpower" during his leadership.

During a bitcoin conference in Nashville, Tennessee, the Republican candidate for president declared that he will transform the United States into the leading hub for cryptocurrency and establish a reserve fund of bitcoin with the government's current holdings.

If elected, he pledged to oust Gary Gensler, the current chair of the Securities and Exchange Commission, and establish a council dedicated to crypto matters. Playfully, he invited the audience to express their interest in being a part of the council.

“We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry.” - Donald Trump

Trump's Evolving Stance on Cryptocurrency: From Skepticism to Embracing Digital Currency

During the Bitcoin 2024 conference, President Trump's keynote speech demonstrated a significant shift in his stance towards cryptocurrency.

In 2019, he expressed his skepticism towards cryptocurrencies on social media, stating that their worth is extremely unstable and not backed by any substantial foundation.

In recent years, he has adopted the use of digital currency and in May, his campaign started to receive contributions in cryptocurrency.

Trump Pledges Support for Crypto and Pardon for Silk Road Creator Ross Ulbricht

In a dramatic shift, former President Donald Trump used his keynote speech at the Bitcoin 2024 conference to champion the cryptocurrency industry and criticize the Biden administration's regulatory efforts. Speaking for nearly 50 minutes, Trump emphasized the contrast between his pro-crypto stance and the government's attempts to "hinder progress for the people."

Notably, Trump gained the support of bitcoin enthusiasts by highlighting instances of U.S. law enforcement seizing cryptocurrency. "They took it away from you," he said, vowing to "transform that vast wealth into a permanent national asset to benefit all Americans." In a surprising move, Trump also reiterated his promise to commute the sentence of Ross Ulbricht, the mastermind behind the infamous Silk Road online drug marketplace.