Former President Donald Trump has announced plans to create a strategic national crypto stockpile if he is re-elected in November. During his keynote speech at the Bitcoin 2024 conference in Nashville, Trump stated “never sell your bitcoin” and pledged to maintain the US government’s current bitcoin holdings.
Key Points:
Trump plans to create a national bitcoin stockpile using the US government’s current bitcoin holdings
He promised not to sell the government’s bitcoin holdings, which will serve as the core of the stockpile. Trump emphasized the need for the US to embrace crypto and bitcoin technology to avoid being dominated by China and other countries
He aims to make US energy the cheapest globally by increasing fossil fuel production and nuclear energy, making it more attractive for cryptocurrency mining operations
Trump’s Shift on Bitcoin:
Trump’s stance on bitcoin has shifted significantly since his time in the White House. Previously, he had publicly dismissed the digital currency, but has since accepted donations in virtual tokens and pledged to end President Joe Biden’s “war on crypto.”
Fundraising Efforts:
The Republican presidential nominee held a fundraiser in Nashville, with tickets topping out at $844,600, and has raised over $4 million in cryptocurrencies, including bitcoin, ether, and USDC. His running mate, JD Vance, is set to hold a fundraiser in Palo Alto on Monday, as the campaign seeks to win over support from big tech donors.
Trump’s plan for a national crypto stockpile and his pledge to be a “pro-bitcoin president” could have significant implications for the cryptocurrency industry. If elected, Trump’s policies could lead to increased adoption and mainstream acceptance of bitcoin and other digital currencies.