Trump’s Vision: America To Reign As Crypto And Bitcoin Epicenter, Latest Statement Reveals
06 September 2024 - 7:30AM
NEWSBTC
As the November elections draw near, former President Donald Trump
is ramping up his support for Bitcoin and the broader
cryptocurrency industry, positioning digital assets as a central
theme in his campaign for the White House. America As The
Bitcoin Capital During a recent address at the Economic Club of New
York, Trump articulated his vision for embracing industries of the
future, notably positioning the United States as the global hub for
crypto and Bitcoin. “Instead of attacking industries of the
future, we will embrace them, including making America the world
capital for crypto and Bitcoin,” Trump declared, showcasing his
commitment to fostering innovation and growth in the digital asset
sphere. Related Reading: DOJ Penalizes Robinhood $3.9 Million For
Past Crypto Withdrawal Restrictions Addressing concerns around
regulation, an area of contention within the industry, Trump
pledged to spearhead a campaign aimed at liberating the economy
from burdensome regulatory constraints. He emphasized a bold agenda
to eliminate outdated regulations, promising a tenfold reduction
for every new regulation introduced under his administration.
Trump’s remarks come alongside hints at his upcoming project,
“World Liberty Financial,” aimed at positioning the US as the
leading player in the global crypto arena. In his latest
comments, the former president expressed commitment to combat what
he perceives as efforts to stifle the industry, asserting, “They
want to choke you, and we are not going to let that happen.” While
Trump did not specify who he believes is trying to “strangle” the
crypto sector, his promises resonate with many in the industry who
are frustrated with the SEC’s current enforcement strategy under
Chairman Gary Gensler. Trump has previously indicated that he
would seek to replace crypto-skeptic Gary Gensler upon his return
to office, a move that many in the crypto community view as crucial
for fostering a more supportive regulatory environment. Trump
Positions Himself As ‘Crypto President’ With the election just 2
months away, Trump’s advocacy for cryptocurrencies and the broader
industry could lead to significant shifts in US policy. He has also
branded himself as the first “crypto president,” vowing to create a
BTC reserve to offset the national debt, currently estimated at $35
trillion. Analysts believe that such commitments could
enhance market confidence and potentially lead to price
appreciation not only for Bitcoin, but for the entire digital asset
ecosystem during the last part of the year. Related Reading: Aptos
(APT) Dips 15% As New Innovations Fail To Spark Momentum As NewsBTC
reported, market experts predict that Trump’s unwavering support
for digital assets and his proposed policy reforms could instill
confidence in the market, potentially leading to further price
appreciation and a more favorable regulatory landscape for the
burgeoning crypto industry. As the countdown to the election
narrows, all eyes remain fixed on the narrative surrounding
cryptocurrencies and the transformative impact a Trump presidency
could bring to the sector. At the time of writing, the largest
cryptocurrency on the market was down 3% from Wednesday’s price,
resulting in a trading value of $56,000 per coin. Featured
image from DALL-E, chart from TradingView.com
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