Making Crypto Great Again: Trump rallies behind digital currency before election
At a recent cryptocurrency event, the former President claims he will be “pro-bitcoin President”
Words: Charlie Bentley
The Harris-Walz campaign has begun to close the gap between the Democrats and Republicans after Biden’s withdrawal from the presidential race. Trump’s team has been searching for pockets of votes across the U.S. In a surprising turn of events, the former President has thrown his support behind cryptocurrencies, making an appearance at the Bitcoin 2024 conference in Nashville. This marks a significant shift from his previous stance, where he had dismissed cryptocurrency as a "scam" and a "disaster." The event, which also featured independent presidential candidate Robert F. Kennedy Jr. and whistleblower Edward Snowden, showcased Trump’s apparent enthusiasm for digital currency.
Trump’s keynote speech at the conference emphasised his plan to position the United States as a global leader in the crypto space. "This afternoon I’m laying out my plan to ensure that the United States will be the crypto capital of the planet and the bitcoin superpower of the world," Trump declared. He proposed that the federal government should never sell its bitcoin holdings, though he stopped short of suggesting a formal federal reserve of digital currency.
His speech highlighted a broader Republican embrace of cryptocurrencies, contrasting it with the regulatory approach of the Biden administration. "The Biden-Harris administration’s repression of crypto and bitcoin is wrong and it’s very bad for our country," Trump said, promising to dismantle what he called an "anti-crypto crusade" if re-elected. Though Trump may be attempting to frame this stance as radical due to the content matter, it hardly seems like a novel Republican stance to want low regulation policies.
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