Trump Promises to Build ‘Strategic Bitcoin Reserve’, Advises Against Selling

Former U.S. President Donald Trump promised to build a “strategic Bitcoin stockpile” for the United States at the Bitcoin 2024 conference in Nashville on Saturday. The Republican presidential candidate followed a week of growing rumors and reports on the matter with a relatively vague announcement to the packed room of Bitcoiners.

“As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future,” Trump said. “I hope you do well.”

Immediately after, Senator Cynthia Lummis announced specific details of her own “strategic Bitcoin reserve” proposal, with a press release noting that the U.S. would “establish a decentralized network of secure Bitcoin vaults operated by the United States Department of Treasury” and seek to acquire 1 million total Bitcoin to hold.

It’s not immediately clear if Trump and Lummis are coordinating on the plan or if they’re separate Republican-led initiatives with similar aims.

The pledge to establish a national Bitcoin reserve—and keep all of the BTC currently held by the U.S. government through seizures—rounded out a roughly 45-minute-long keynote address in which Trump promised to end the Democrats’ regulatory onslaught against cryptocurrency companies and holders. If elected, Trump would refashion the U.S. into a “Bitcoin superpower,” he said.

“I’m laying out my plan to ensure that the United States will be the crypto capital of the planet,” Trump told the packed conference room, which promptly erupted in applause.

He warned that the regulatory roadblocks that have plagued crypto companies under the Biden administration would continue stymieing innovation stateside under the would-be administration of his likely Democratic challenger Kamala Harris. 

“If [the Democrats] win this election, every one of you will be gone,” Trump told attendees. “They will be vicious. They will be ruthless.”

Editor’s note: This story is breaking and will be updated with additional details.

Edited by Andrew Hayward

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It was a momentous occasion at the Bitcoin 2024 conference in Nashville, where former U.S. President Donald Trump made a bold promise to establish a “strategic Bitcoin stockpile” for the nation. This announcement came after weeks of speculation and swirling rumors, with Trump addressing a packed room of enthusiastic Bitcoin advocates to share his vision for the future.

In his address, Trump declared that if elected, his administration would prioritize accumulating and retaining all Bitcoin currently held by the U.S. government. This strategic move aimed to position the United States as a dominant force in the cryptocurrency realm, signaling a significant shift in the country’s approach to digital assets.

Following Trump’s declaration, Senator Cynthia Lummis revealed details of her own proposal for a “strategic Bitcoin reserve,” outlining plans to create a network of secure Bitcoin vaults operated by the Department of Treasury. This initiative sought to acquire a substantial amount of Bitcoin to bolster the country’s financial reserves.

The synergy between Trump and Lummis’s proposals raised questions about potential collaboration or separate Republican-led strategies with aligned objectives. The prospect of a national Bitcoin reserve generated excitement and speculation within the cryptocurrency community, as stakeholders contemplated the implications of such a monumental decision.

Throughout his keynote address, Trump emphasized his commitment to transforming the U.S. into a “Bitcoin superpower” by dismantling regulatory barriers that hindered innovation and growth in the sector. He criticized the current administration’s handling of cryptocurrency regulation, warning of continued challenges under a hypothetical Kamala Harris presidency.

As Trump painted a vision of a crypto-friendly America leading the global market, attendees at the conference erupted in applause, energized by the prospect of a new era for digital currencies in the country. The bold promises and ambitious plans outlined by the former president set the stage for a potentially transformative shift in U.S. economic policy.

In the midst of escalating political tensions and contrasting visions for the future, the issue of cryptocurrency regulation emerged as a central point of contention between the two major political parties. Trump’s unequivocal stance on embracing Bitcoin contrasted with the perceived regulatory hurdles posed by his opponents, adding a layer of complexity to an already charged political landscape.

Amid the uncertainty and anticipation surrounding the outcome of the upcoming election, the promise of a national Bitcoin reserve offered a glimpse into a potential future where digital assets played a pivotal role in shaping the country’s financial strategy. Whether these plans come to fruition remains to be seen, but the implications of such a monumental shift in policy cannot be understated.

As the crypto community eagerly awaits updates on this groundbreaking development, one thing is clear: the world of digital finance is rapidly evolving, with new opportunities and challenges on the horizon. With the intersection of technology, politics, and finance shaping the future of economies worldwide, the promise of a strategic Bitcoin stockpile signals a paradigm shift that could redefine the financial landscape for generations to come.

For more trending news articles like this, visit the DeFi Daily News website. Stay informed and stay ahead of the curve in the ever-changing world of decentralized finance.



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