President Donald Trump Pledges to Make U.S. a Global Leader in Bitcoin and Crypto
| Key Points: – President Donald Trump vowed to make the U.S. the “Bitcoin superpower” with plans for crypto dominance and regulatory rollbacks. – Trump previously announced an executive order establishing a Strategic Bitcoin Reserve to prevent government Bitcoin sales at undervalued rates. |
President Donald Trump reaffirmed his commitment to making the United States the “undisputed Bitcoin superpower and crypto capital of the world” in a video address to the Digital Asset Summit in New York on Thursday.
The remarks underscored his continued push for a pro-crypto stance as he seeks to position himself as the industry’s preferred candidate.
President Donald Trump Pushes for U.S. Leadership in Cryptocurrency
President Donald Trump detailed his vision for U.S. dominance in the cryptocurrency sector, highlighting recent initiatives aimed at fostering innovation and investment.
“The United States is going to dominate crypto and the next generation of crypto technology. It’s not going to be easy but we are way ahead,” he said.
He also referenced a recent White House summit on digital assets, which brought together top industry leaders and featured discussions led by a designated AI & Crypto Czar. A key element of Trump’s strategy includes an executive order establishing the Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile.
The move marks a stark departure from President Joe Biden’s approach, which Trump criticized for selling off government-held digital assets at undervalued rates. The new reserve is intended to ensure the government retains its Bitcoin holdings to maximize long-term value.
“That same week, I signed an order creating the brand-new Strategic Bitcoin Reserve and the U.S. Digital Asset Stockpile, which will allow the federal government to maximize the value of its holdings instead of foolishly selling them for a fraction of their long-term value, which is exactly what Biden did,” Trump said.
Crypto Regulation and Market Reactions
Trump also emphasized his administration’s efforts to roll back restrictive regulations that he claims have hindered crypto growth. By ending what he called “Operation Choke Point 2.0,” he signaled a shift toward eliminating regulatory barriers that have discouraged institutional investors from fully embracing digital assets.
However, the cryptocurrency market reacted in the opposite direction to Trump’s statement, with Bitcoin building on its gains from the previous day. Market sentiment was also boosted by favorable macroeconomic signals from the Federal Reserve yesterday, which apparently were not enough for Bitcoin to regain its price range after Trump won the election in November.
President Donald Trump’s support for cryptocurrencies was sparked during his campaign stop at the Bitcoin 2024 conference in Nashville, where he urged attendees to “never sell your Bitcoin.” His remarks at that event marked the first time a U.S. president has proposed holding onto government-confiscated Bitcoin rather than liquidating it.
Trump’s pro-crypto stance contrasts sharply with the Biden administration’s regulatory approach, which has included lawsuits against crypto firms for allegedly facilitating unregistered securities trading and warnings to banks and investors about the risks associated with digital assets.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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