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Source: Global Times

[Global Times reporter Li Meng] According to reports from the New York Times and other foreign media, at the 2024 Bitcoin Conference held on the 27th local time, the speech delivered by former US President Trump caused heated discussion. He not only made bold promises about the future of Bitcoin, but also expressed strong dissatisfaction with current regulatory policies.

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Trump declared that if he returns to the White House, he will work to make the United States the world's "cryptocurrency capital" and "Bitcoin superpower." He promised that under his leadership, Bitcoin will be mined and promoted to consolidate the United States' dominance in the global cryptocurrency field.

Trump made it clear in his speech that he would immediately fire the current SEC Chairman Gary Gensler and appoint a new one if he is elected. This statement received a warm response from the audience, and Trump also expressed his surprise, saying "I didn't know he was so unpopular."

In his speech, Trump said he would set up a Bitcoin and Cryptocurrency Advisory Committee to design, regulate and guide it. He also promised to order the Treasury Department and other federal agencies to stop developing central bank digital currencies. Trump also promised to ensure that the federal government will never sell its Bitcoin holdings and keep them as "strategic reserve assets." The U.S. CNBC website said that during Trump's speech, the price of Bitcoin fell briefly, but then recovered and rose slightly.

It is worth noting that in 2021, Trump called Bitcoin a "scam" and considered it another currency that competes with the US dollar. But at the Bitcoin Conference held on July 27, he changed his attitude and said that Bitcoin is not a threat to the US dollar. CNBC said that Trump began to sing praises for digital currency after his defeat in the presidential election and the millions of dollars donated by cryptocurrency lobbying groups for his campaign.

As the 2024 US election approaches, cryptocurrency policy is becoming one of the hot topics in candidate debates. The New York Times said that Trump's remarks were his most direct canvassing remarks to date, and he is competing with independent presidential candidate Robert F. Kennedy for the support of cryptocurrency holders. After Trump's speech, Republican Senator Cynthia Loomis of Wyoming unveiled a legislative proposal requiring the US government to purchase 1 million bitcoins within five years and hold them for 20 years. If implemented, this proposal will have a significant impact on the cryptocurrency market. Robert F. Kennedy, who spoke before Trump, had hinted that Trump's support for cryptocurrency was politically motivated. Kennedy criticized Trump for limiting the potential of cryptocurrency during his administration. He also promised to launch a reserve plan for 4 million bitcoins if he is elected president.

Yahoo Finance said that Silicon Valley has a clear split on this presidential election. Some venture capital partners and celebrities support Trump, while other well-known technology figures publicly support Harris, the current US Vice President and Democratic presidential candidate. CNBC said that Harris rejected the invitation to the Bitcoin conference, but she will clarify her position on cryptocurrency in the coming weeks.

In an interview with CNBC, Rep. Willie Nickel, a North Carolina Democrat, said cryptocurrency regulation should not become a “partisan political game.”