Former President Donald Trump has promised to make the US a ‘Bitcoin superpower’ if he returned to the White House and said that he will appoint an advisory council to design transparent regulatory guidance for the benefit of the entire industry. But Trump, the Republican nominee, stopped short of proposing a formal federal reserve of digital currency. Trump made a series of cryptocurrency-friendly policy commitments during remarks at a Bitcoin convention Saturday, including promising to fire Securities and Exchange Commission Chair Gary Gensler and creating a “strategic national Bitcoin stockpile.
Bitcoin is the world’s first widely adopted cryptocurrency — it allows for secure and seamless peer-to-peer transactions on the internet.
He also warned that Bitcoin investors in the audience will be “crushed” if Vice President Kamala Harris is elected as president.
“They (Democrats) want to choke you. They want to choke you out of business. We’re not going to let that happen. And no longer will your government sit by and watch as Bitcoin jobs and businesses flee to other countries because America’s laws are too unclear and too tough and too angry and too stiff. We will keep each and every Bitcoin job in the United States of America,” Trump said in his address to the Bitcoin2024 Conference, the cryptocurrency industry’s largest annual gathering, in Nashville’s Music City Center.
Crypto stocks jump in the U.S. after Donald Trump’s pro-Bitcoin speech
Shares of New York-listed cryptocurrency firms gained before the open on Monday after Republican presidential candidate Donald Trump talked up Bitcoin and promised friendlier regulation for the industry Crypto exchange Coinbase’s shares climbed 3.7%, while miners Bitfarms, Riot Platforms and CleanSpark were up between 3.4% and 4.5%.