Donald Trump has announced his intention to make the U.S. the leading cryptocurrency country if elected president. This announcement was made on August 29 through social media.
Trump’s Announcement
On August 29, Donald Trump stated that he would lay out his plan to ensure America becomes the “crypto capital of the planet” as blockchain and digital assets increasingly feature in U.S. political campaigns. The post also mentioned the World Liberty Financial initiative, spearheaded by his sons, Donald Trump Jr. and Eric Trump. Details about the project were scarce at press time, but rumors suggest it revolves around real-world assets and tokenization.
Trump’s Crypto Shift
During a May gala, Donald Trump first styled himself as the industry’s champion and started adopting pro-crypto remarks to woo web3 votes. Trump’s bullish rhetoric continued at the July Bitcoin 2024 conference. The Republican party candidate promised to create a strategic Bitcoin reserve and fire Gary Gensler, current Securities and Exchange Commission chair.
Political Support and Legislative Initiatives
While odds between Trump winning and Democratic pick Kamala Harris becoming president have fluctuated recently, crypto seemed to lean toward the former president and his supposed policies. Also, a Bitcoin bill fielded by fellow Republican Senator Cynthia Lummis from Wyoming has reportedly garnered steam in the Senate. Like Trump’s plan, Lummis’ proposal would tap America’s existing stockpile and leverage Gold certificates for a two-decade Bitcoin HODL.
Donald Trump is actively promoting the idea of turning the U.S. into a global cryptocurrency hub. His statements and plans are gaining support among some politicians and crypto enthusiasts, which could significantly influence the future development of the cryptocurrency industry in the country.
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