Trump addressed the largest annual gathering of crypto enthusiasts last Saturday during the 2024 Bitcoin Conference in Nashville. The former US President, who once declared Bitcoin "not money", makes a surprising 180-turn from being a critic to champion as he pursues his bid for a second term at the White House.
Disregarding Bitcoin's troubling history and disparaging remarks, Trump directly appeals to thousands of crypto supporters, promising to make America the world's "crypto capital." His headline appearance at the annual conference surprises many since the former President once declared the nascent asset as "not money" while he was in the White House.
Trump's remarks reportedly boosted positive market sentiments and bullish sentiments as BTC price rallies hours after his speech.
“Never Sell Your Bitcoin”
The annual event, as always, was at the center of the news towards its Saturday schedule. Crypto enthusiasts, journalists, and the general American public asked questions like “Where is the Bitcoin conference 2024?” “Is Trump speaking at the Bitcoin conference?” as stakeholders look forward to a more crypto-friendly political environment.
The Republican nominee for the 2024 US elections said that if he got re-elected to the White House, his government would never sell off its BTC holdings. Addressing thousands of crypto enthusiasts, financial experts, and journalists, Trump said, "For too long our government has violated the cardinal rule that every Bitcoiner knows by heart: Never Sell your Bitcoin."
Trump's keynote address directly criticized the anti-crypto stance of the current Biden administration as a "war on crypto". He promised to make cryptocurrency mining easier in the United States, if he gets re-elected as President.
He also vowed to fire Securities and Exchange Commission Chair Gary Gensler, whose administration has carefully executed various "anti-crypto" policies. "If crypto is going to define the future, I want it to be mined, minted, and made in the USA", he added, declaring his ambition to make America the world's "Bitcoin superpower."
Reports claim that donors have given about $4 million to the GOP Presidential train as the organization opens its arms to BTC donations. The conference also saw allies in the Republican Party follow Trump's new stance by similarly endorsing the emergent asset class. Sen. Tim Scott (South Carolina) argues that Trump understands the industry’s concerns about attaining financial freedom. He added that the GOP wants all categories of Americans “in charge of making their decisions”.
Industry leaders have reportedly courted Trump’s campaign train for months on the prospects of a pro-crypto stance on their political ambitions on the one hand and the country’s economy on the other hand. However, Trump said nothing about creating a formal federal digital currency reserve. He also didn't acknowledge the fraudulent schemes that have carted away Americans' millions of dollars and dented the asset's public image.
The GOP Presidential candidate reportedly plans to travel to St. Cloud, Minnesota for a political rally alongside his running mate, Sen. J.D. Vance (R-Ohio). Meanwhile, VP Harris attended a celebrity-studded fundraiser last Saturday, in Pittsfield, Massachusetts.
Summary
The GOP Presidential candidate disregards the emerging asset's troubling history and promises to make crypto mining easier in the country. The Bitcoin community responded by donating about $4 million BTC to Trump's presidential train while Republican politicians have followed Trump's lead in criticizing Biden's administration's "non-crypto stance."