What Did Trump Say at Bitcoin Conference 2024?

This event garnered significant attention because Trump’s campaign has made crypto a key point to attract supporters, amid the Biden administration and Democratic Party’s ongoing crackdown on companies in the cryptocurrency sector.

This marks the first time a former U.S. President has attended a major Bitcoin community event, a fact acknowledged by Trump himself.

Starting his approximately 45-minute speech at Bitcoin Conference 2024, Trump was presented with 1 BTC by the event organizers as a commemorative gesture.

The former President wasted no time addressing the core issue, stating that under Biden’s administration, the U.S. has weakened in many areas, including fostering advancements in the crypto and Bitcoin sectors. He emphasized that if re-elected and the Republicans regain power, he would do everything possible to keep crypto in the U.S.

If we don’t do it, China will. Crypto can be seen like the steel industry of 100 years ago, it’s just in its early stages.

Trump wants America to become the “center” and “superpower” of Bitcoin in the world by reducing energy costs to retain and attract miners.

If Bitcoin goes to the Moon, I want America to be the leading country.

The former President also suggested that one day Bitcoin might surpass gold and asserted that Bitcoin is not currently a threat to the dollar.

In just 15 years, Bitcoin has gone from an idea on the Internet to the 9th most valuable asset in the world. It will soon surpass silver. […] One day it might even surpass gold. Nothing has done that before, and most people still don’t understand it. Imagine what will happen when they see Bitcoin’s potential?

Trump also reminded the audience that his first term (2017-2021) was a period when Bitcoin experienced significant growth, repeatedly setting historical highs, and he is ready to help the Bitcoin community achieve this again in the next four years.

One of the most notable moments of his speech was when Trump mentioned SEC Chairman Gary Gensler. Trump affirmed that one of his first actions upon returning to the White House would be to fire Gary Gensler and appoint a new SEC chairman who is more open to technological advancements.

This statement immediately electrified the crowd, earning thunderous applause and cheers from the attendees of Bitcoin Conference 2024, surprising and delighting Trump to the point that he repeated it to further stir the crowd.

Trump might not know that SEC Chairman Gary Gensler is one of the most disliked officials in the crypto community due to his constant actions against projects in the sector under securities allegations, even though Congress has not yet passed specific crypto regulatory laws, all under the guise of protecting investor rights.

Taking this opportunity, Trump declared he would end “Operation Chokepoint 2.0,” a term often used by the crypto community to refer to the Biden administration’s crackdown on crypto.

The former President then made an announcement eagerly awaited by the crypto community: he confirmed that he would establish a national Bitcoin reserve for the U.S., based on the more than 213,000 BTC held by the U.S. Department of Justice as confiscated criminal evidence.

America is holding nearly 210,000 BTC, about 1% of Bitcoin’s total supply. But our government has long violated a basic principle that every Bitcoin investor knows: never sell Bitcoin.

If elected, my administration will have a policy to hold all the Bitcoin that the U.S. government currently possesses. This will be a key part of the national Bitcoin reserve.

Related: Bitcoin Nears $69,000 Following Donald Trump’s Speech

Trump’s commitments and statements about crypto

• Establishing a Presidential advisory board on Bitcoin and crypto;
• Not allowing the federal government to issue a national digital currency (CBDC);
• Creating a regulatory framework to support stablecoin businesses;
• Releasing Ross Ulbricht, founder of the Bitcoin-based black market The Pirate Bay, who was sentenced to life imprisonment by the U.S.;
• Thanking the crypto community for their support in his campaign, with over $4 million in crypto donations;
• Praising Bitcoin investors as people with “high IQ.”

Throughout his speech, Donald Trump repeatedly urged the audience to vote for him in the November election, stating that these commitments could only become a reality if he once again becomes the leader of the United States.