Trump pledges to make US ‘the crypto capital of the planet’

Planet? Why think small. Galaxy!

Honestly, while there are a ton of specifics that need to be worked out (like better security), avoiding the massive energy cost of certain currencies (Bitcoin for instance), the idea of having a global currency that allows commerce without sovereign state currency risk is pretty compelling.

Trump pledges to make US ‘the crypto capital of the planet’ during speech at world’s largest Bitcoin conference

By Cameron Arcand and Rich Calder, NY Post

Published July 27, 2024

NASHVILLE — Donald Trump headlined the world’s largest cryptocurrency conference Saturday, a strategic move aimed at positioning himself as the presidential candidate who will help the embattled industry avoid overreaching federal scrutiny.

While speaking to more than 10,000 people at the 2024 Bitcoin Conference in Nashville, the Republican presidential nominee vowed the “United States will be the crypto capital of the planet and the Bitcoin superpower of the world” if he’s elected to a second White House term.

“If Bitcoin is going to the Moon — as we say — it’s going to the Moon, I want America to be the nation that leads the way,” said Trump, insisting the digital currency’s value could surpass that of gold under his leadership.

Trump also promised to end what he called President Biden and Vice President Kamala Harris’ “war on crypto” — and to fire Securities and Exchange Commission Chairman Gary Gensler, who’s leading a regulatory crackdown on digital currency.

“For three and a half years, the current administration has waged a war on crypto and Bitcoin like nobody’s ever seen before,” he said.

Trump also pledged to appoint a Bitcoin and crypto presidential advisory council to regulate the industry — but under new rules written by people “who love the industry” and want to help it grow.

While president, Trump was a big skeptic of the crypto market, saying in 2019, “We have only one real currency in the USA, and it is stronger than ever. It is called the United States Dollar!”

But he’s embraced digital currency in recent years, and his campaign began accepting donations in crypto in May, the same month he called himself a “crypto candidate.”

His running mate, Sen. JD Vance (R-Ohio), has introduced and supported pro-crypto legislation. Vance, a former venture capitalist, is a stakeholder in Bitcoin.

Harris wasn’t at the conference — she’s playing catchup, with businessman Mark Cuban saying her campaign has reached out to him to learn more about cryptocurrency.

But independent presidential candidate Robert F. Kennedy Jr. addressed the crowd Friday, saying, “I have most of my wealth in Bitcoin.”

Cryptocurrency backers are hopeful a Trump return to the White House will lead to Bitcoin becoming more mainstream.

“RFK did impress me, but I like what I’m hearing from Trump,” Benjamin Beach, a law student from the swing state of North Carolina, told The Post.

“The main thing with Trump is we have to make sure he follows through on his promises, and we have to hold him accountable as bitcoiners. RFK did a great job yesterday, and I agreed with most of the things he said, I just don’t think he has enough momentum behind him to pull away from what Trump has already stated he would do,” he added.