At the Bitcoin 2024 conference in Nashville, former President Donald Trump spoke to a full house of bitcoin fans. He made several promises that might change the world of cryptocurrency. These promises show how important bitcoin is becoming in the global economy.
Bitcoinism
The first promise Trump made was about holding onto bitcoin. This idea is similar to Michael Saylor’s advice to not trade BTC for other assets or currencies. Trump believes that bitcoin will become stronger as more people start using it. This idea is popular with bitcoin maximalists, who think bitcoin is the best form of money ever created.
Regulations: Gary Gensler Fired
Trump also talked about removing Securities and Exchange Commission (SEC) Chairman Gary Gensler if he becomes president again. He said Gensler has made things hard for cryptocurrency businesses with too many rules. This makes it difficult for them to grow and innovate. The audience was very happy to hear this because they don’t like too many regulations stopping new ideas.
Operation Choke Point 2.0 Overturned
Another promise was to stop Operation Choke Point 2.0. This program tries to prevent bitcoin companies from using traditional banking services. Many companies had to leave the US because of this. Trump’s promise could mean more freedom for digital currency businesses in the US, making them stronger and more competitive worldwide.
Bitcoin Advisory Council Formation
Trump said he wants to create a Bitcoin Advisory Council. This group will include experts from the cryptocurrency world. They will give advice and help make good policies for bitcoin. Trump thinks this will help the US government support the growth of digital currencies.
A Strategic Bitcoin HODL
Trump also mentioned keeping the federal government’s bitcoins for strategic purposes. Unlike past administrations that sold their bitcoins, Trump said he would keep them. He believes this fits with his plan to use bitcoin’s potential fully.
Pardon Ross Ulbricht
Trump talked about possibly pardoning Silk Road founder Ross Ulbricht. Ulbricht is serving a very long prison sentence for his role in a darknet marketplace that used bitcoin for transactions. Trump thinks this pardon would show he wants to fix unfair punishments in the justice system, especially for early bitcoin users like Ulbricht.
Wider Significance
If Trump keeps his promises, it could have a big impact on the bitcoin community and the US economy. The US might become a leader in digital assets by removing barriers and supporting cryptocurrency growth. Creating a Bitcoin Advisory Council and holding bitcoin strategically could also help integrate digital currencies into the economy faster.
Conclusion
Trump’s promises at Bitcoin 2024 are a major moment in cryptocurrency history. These commitments could lead to stronger and more innovative digital economies as bitcoin becomes more popular. Whether Trump will follow through with these promises is still unknown, but his speech has definitely excited the bitcoin community.
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