Former President Donald Trump expressed his strong support for Bitcoin, stating that if re-elected, he would incorporate Bitcoin as a strategic reserve asset for the United States.
During his keynote speech at the Bitcoin Conference in Nashville, Trump emphasized that the real threat to the dominance of the US dollar is not Bitcoin but rather the political decisions of Washington DC.
In a series of statements, Trump also announced his intention to order the Treasury Department to cease efforts to develop a central bank digital currency (CBDC).
He called Bitcoin “not just a marvel of technology but a miracle of human cooperation and achievement,” and vowed to end what he called the “persecution” of the cryptocurrency sector under his possible future presidency.
Trump also said he would fire current SEC Chairman Gary Gensler on his first day in office.
His comments suggest a complete reversal of the current administration’s stance on cryptocurrency regulation and oversight.
To round out his pro-crypto stance, Trump predicted that Bitcoin’s market cap could surpass that of gold and called for the United States to become the “crypto capital of the planet,” signaling a significant shift in policy toward digital currencies if he were to win the presidential election.
As of 17:06 EST (21:06 GMT), the price of Bitcoin was up about 1% on the day.
