Donald Trump at 2024 Bitcoin Conference: Will Fire Gary Gensler

Bittime - Former President and US presidential candidate, Donald Trump, announced a bold plan to change the cryptocurrency regulatory landscape in Uncle Sam's country. He will even fire SEC Chairman Gary Gensler if he is elected later.

In his ground-breaking speech at the 2024 Bitcoin Conference, Trump declared his determination to make the US a “Bitcoin superpower” and a global center of digital currency innovation.

Donald Trump Will Fire Gary Gensler

The first step in Trump's pro-crypto agenda was a promise to fire Gary Gensler, Chairman of the US Securities and Exchange Commission (SEC), on the first day of his term if re-elected as president. This statement received a warm welcome from crypto fans who attended the event.

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"My first day in office, resistance to crypto, persecution, and weaponization will stop," Trump said confidently. He strongly criticized SEC policies which he considered too harsh on Bitcoin and other digital assets.

Trump promised to appoint a new SEC chairman who supports innovation and America's future in the field of digital assets. "I will appoint a new SEC chairman who believes in building America, not blocking its future," he said. 

He also harshly criticized Vice President Kamala Harris, who is said to want to make Gensler Minister of Finance, calling him a "low IQ individual" who opposes crypto.

Trump's vision for America as a “crypto superpower” doesn't stop at regulatory changes. He set out the ambitious goal of making the US the "crypto capital of the planet". 

Trump emphasized, "If crypto is going to define the future, I want it mined, minted and made in the United States. Crypto is going to the moon. I want America to lead the way."

Trump Predicts Bitcoin Beats Silver and Gold Market Capitalization

The former president even predicted that Bitcoin will surpass silver in market capitalization in the near future, and perhaps one day beat gold. This statement reflects his belief in future crypto dominance.

Trump also promised to shut down Operation Chokepoint, a US government initiative deemed detrimental to the crypto industry, and prevent the implementation of a Central Bank Digital Currency (CBDC) during his presidency. 

"There will never be a CBDC as long as I am President of the United States, and I will defend self-storage," he stressed.

Furthermore, Trump announced plans to form a special committee focused on cryptocurrencies. This committee will be tasked with designing crypto regulations that are forward-looking and support industry growth. 

The move is seen as a way to encourage innovation and ensure the US remains at the forefront of the global digital economy.

Interestingly, Trump also corrected his previous statement which considered Bitcoin a threat to the US dollar. Now he argues that the real threat to the dollar comes not from cryptocurrencies, but from the current US government. 

"Bitcoin does not threaten the dollar, the current US government threatens the dollar," he stressed. This change in perspective marks a significant shift in Trump's views on cryptocurrencies.

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In his speech, Trump also called on the public to "never sell your Bitcoin." He emphasized that he would be a pro-innovation and pro-Bitcoin president. 

In fact, Trump revealed ambitious crypto mining plans, promising to maintain 100% of US Bitcoin holdings as a strategic reserve if elected. 

He also committed to turning the US into a Bitcoin mining "powerhouse", eliminating the need for miners to move to China.

Trump's bold promises are seen as an attempt to lure pro-crypto voters ahead of the 2024 elections, marking a significant shift in the political landscape around digital assets. 

Whether his vision will be realized remains to be seen, but his statements have rocked the crypto community and added a new dimension to the political discourse around digital assets.

While the world awaits the 2024 US presidential election, Trump's revolutionary plans for the crypto industry have opened a new chapter in discussions about the future of digital currencies and the US's role in them. 

Regardless of the pros and cons, one thing is certain: the crypto world is facing the possibility of major changes that could change the face of the global digital economy.

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To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

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