Trump Promises To Make USA The “Bitcoin Super-Power Of The World”; Democrats Panic

Reports) – In a spirited keynote address, Former President Trump promised to make USA the “bitcoin super-power of the world,” ensuring that cryptocurrency is “mined, minted, and made in the USA.”

Former President Donald Trump has pledged to make the United States the “bitcoin super-power of the world” if he is reelected in 2024.

Speaking at the Bitcoin 2024 conference in Miami on Thursday, Trump said he would ensure that cryptocurrency is “mined, minted, and made in the USA.”

“We have to talk about Bitcoin. Our country is blessed with the extraordinary talent and genius in this room,” Trump said. “This spirit built America and will help us make it great again.”

He continued: “I admire what the Bitcoin community has achieved. In just 15 years, Bitcoin has gone from an idea to the 9th most valuable asset in the world. It’s already bigger than ExxonMobil and soon it will surpass the market cap of silver. That’s a big deal.”

Trump also made several promises to the cryptocurrency industry, including:

Ending the “weaponization” of the government against Bitcoin on his first day in office

Firing Securities and Exchange Commission (SEC) Chairman Gary Gensler and appointing a new SEC chairman who is “pro-bitcoin”

Shutting down “Operation Chokepoint 2.0,” which he said is being used to “strangle” the cryptocurrency industry

Appointing a crypto advisory council with “regulations written by industry-loving people within 100 days”

Confirming that there will “never be a CBDC” while he is president

“Those who say that bitcoin is a threat to the dollar have it exactly backwards,” Trump said. “The danger to our financial future comes from Washington DC not crypto.”

He added: “Bitcoiners understand inflation better than anyone. You all understood it first.”

Promising to “drill, baby, drill,” Trump said that with low energy costs, the United States will become the undisputed bitcoin mining center of the world.

Finally, Trump dropped the big guns:

“The policy of the Trump administration will be to keep 100% of all that it currently holds as the core of the strategic national bitcoin stockpile,” he said, confirming his promise to commute the sentence of Silk Road founder Ross Ulbricht to time-served.

Bitcoin's price has risen significantly in the last 24 hours in anticipation of Trump’s speech, and it continued to rise after his remarks.

At the time of writing, Bitcoin’s price is up 20% over the past 24 hours and 70% year-to-date.

notably, Democrats appear to be worried that crypto could be a vote-changer for many people.

A number of Democratic congressmembers have penned a letter to the DNC pushing for change.

“Over 52 million Americans have embraced digital assets, seeing them as a means to democratize finance, spur innovation, and create new economic opportunities,” the letter reads.

“According to recent polls. 19% of voters have bought crypto, 19% self-identified as Democrats, 18% as Republicans, and 24% of crypto-owning voters are independents.”

suggesting that digital assets are being adopted at higher rates among Gen Z, Black and Latino Americans, and immigrant communities — key constituencies of the Democratic party — compared to traditional financial products.

“These technologies are revolutionizing opportunities for these communities, reflecting their transformative potential,” the letter continues.

“From an electoral standpoint, crypto and blockchain technologies have an outsized impact in ensuring victories up and down the ballot.”

“Crypto is at the top of voters’ minds in swing states, and a balanced approach to crypto that spurs innovation while protecting consumers is a net positive for policymakers and candidates,” the congressmembers add.

“Over 20% of voters in key battleground states identified crypto as a major issue in the 2024 election, and it is critical that our party presents a persuasive case to crypto voters while ensuring that consumers benefit from thoughtful and appropriate regulation.”

The letter concludes by stating that the current financial system has “left Americans behind.”

“According to recent surveys, 4 in 5 voters agree with the statement, ‘The current financial system favors elites over regular people,'” the congressmembers write.

“Digital assets and blockchain technology are not merely financial instruments but represent a revolutionary shift that can enhance transparency, reduce fraud, and create a more inclusive financial system.”

“We believe this technology is non-partisan, and the Democratic Party should also champion these innovations to help reaffirm the U.S.’s position as the leader in the global digital economy.”

They then make four suggestions:

The DNC should back off the attacks on crypto, which are notably led by Senator Elizabeth Warren and SEC Chair Gary Gensler

The party should highlight the positive aspects of crypto and blockchain technology, such as their potential to promote financial inclusion and innovation

The DNC should engage with crypto industry leaders and voters to better understand their concerns and priorities

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