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Trump Wants US to Lead Crypto Revolution After Reelection

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By Jaden Francis - - 5 Mins Read
Former President Donald J. Trump arrives on stage during CPAC Conference 2024 at Gaylord National Resort Convention Center in Washington DC on February 24, 2024
Former President Donald J. Trump | lev radin/Shutterstock

If re-elected, former U.S. President Donald Trump has pledged to make the United States a leader in the cryptocurrency revolution.

At the Libertarian National Convention in Washington, D.C., Trump promised strong support for Bitcoin and other digital currencies.

Bitcoin will be made in the USA, not driven overseas,” he stated. Indicating his intention to foster domestic growth in the cryptocurrency sector.

During his speech, Trump showed his commitment to protecting the rights of cryptocurrency holders. He promised to support the right to self-custody.

Self-custody allows individuals to manage their own crypto assets without interference from a third party. He also vowed to keep anti-crypto Senator Elizabeth Warren away from the nation's 50 million crypto holders. 

"To the nation’s fifty million crypto holders, I say this: with your vote, I will keep Elizabeth Warren and her goons away from your Bitcoin."

Trump also stance against the creation of a central bank digital currency (CBDC) and assured his supporters that he would never allow its establishment.

“I will never allow the creation of a central bank digital currency," he stated.

Historical Support for Crypto

This recent campaign speech is not the first time Trump has shown support for the cryptocurrency industry.

The former president is known for his positive stance on digital currencies. In one of his posts on Truth Social, an alternative social media platform, Trump expressed his openness to cryptocurrency companies and "all things related to the new and burgeoning industry."

Trump criticized the current president, Joe Biden, accusing him of wanting cryptocurrency to "die a slow and painful death."

He described Biden as the worst president in the country’s history.

Also read: Trump's Token Takes Off as Big Bet Over Election Outcome

Promise to Free Ross Ulbricht

Trump also promised to free Ross Ulbricht, the creator of the darknet marketplace Silk Road, if he is re-elected.

Ulbricht was sentenced to two life sentences plus 40 years for his role in creating the platform used for buying and selling illegal goods, including drugs. As of now, Ulbricht has served 11 years of his lifetime sentence.

During his campaign speech, Trump pledged to commute Ulbricht’s sentence to time served. The audience, many of whom held up signs reading "Free Ross," cheered at this announcement.

This pledge shows Trump's commitment to addressing what he and his supporters view as injustices within the legal system, particularly in cases related to the burgeoning digital economy.

"If you vote for me, on day one, I will commute the sentence of Ross Ulbricht, who has already served 11 years," Trump said.

The Donald Trump campaign strategy is to use these promises to gather support from the crypto community. More so, Trump aims to distinguish himself from his political opponents by using the term Trump Bitcoin to show his commitment to the principles of financial decentralization.