Former President Donald Trump gave one speech at the Bitcoin 2024 conference in Nashville, Tennessee on Saturday. He used his speech to highlight his crypto-related policies if he were re-elected, and to convince crypto voters.
Trump’s promise to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler on the first day after taking office prompted the crowd to chant his name. Here are a few key things Trump also said at the conference:
Bitcoin is a ‘miracle of collaboration and human achievement’
Trump said Bitcoin is a “marvel of technology” that demonstrates the pinnacle of collaboration and achievement. He added that Bitcoin has already become bigger than ExxonMobil, and given its growth rate, he compared it to the “steel industry of 100 years ago.”
Trump also emphasized that Bitcoin leaders and developers have a rare “camaraderie,” a friendship that exists despite competition.
Following his praise for Bitcoin and its community, Trump announced that if re-elected, he would never allow the government to sell the 210,000 BTC it currently holds, as well as any bitcoins acquired in the future.
He added that under his presidency, this government holding of BTC will be converted into a strategic national Bitcoin supply. As a stock, it will be an asset to all Americans, Trump said.
Harris is “against crypto”
Trump called the current administration of President Joe Biden a “fascist regime” and said Bitcoin is the only way to achieve independence from government coercion and control. Bitcoin stands for freedom and sovereignty, he said.
Trump then lambasted Vice President Kamala Harris, calling her worse than Biden and a “radical.” He added:
“The Biden-Harris administration’s suppression of crypto and Bitcoin is wrong and it is very bad for our country.”
Trump stated that Harris is “against crypto” and she is “very much against it.” He said:
“Let me tell you, if they win this election, you’ll all be gone. They will be cruel. They will be ruthless. They will do things you wouldn’t believe.”
Trump’s comments came just a day after a large number of Democrats admitted in a letter that Americans view the party as anti-crypto. The politicians warned that crypto would have an “outrageous impact” on the November elections and suggested that the party take a “forward-looking approach” to crypto.
The consortium of Democrats also recommended that Harris select a crypto-friendly SEC chairman and vice presidential candidate.
Build fossil fuel-based power plants for Bitcoin mining companies and AI
Both artificial intelligence (AI) and Bitcoin mining require a large supply of electricity. To turn the US into a ‘Bitcoin mining powerhouse’, Trump plans to meet demand by building fossil fuel-based power plants.
“We will simply drill a baby drill,” Trump said, noting that fossil fuels will be used in an “environmentally friendly way.”
Trump’s ambition is to ensure that the US has the “lowest energy and electricity costs of any country on earth” by the end of his new term, if he is re-elected. However, it’s worth noting that Trump has called AI a “dangerous thing” in the past.
Bitcoin Market Data
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At the time of printing 15:13 UTC on July 28, 2024the total crypto market is valued at € $2.42 trillion with a 24 hour volume of $70.3 billion. Bitcoin’s dominance currently stands at 55.46%. Learn more about the crypto market ›