Trump promises to make America a bitcoin superpower, announces setting up of crypto advisory council

America is due to have presidential elections in the month of November this year. President Joe Biden has opted out of the race. Instead of Joe Biden, the Democrats have fielded the Vice-President, Kamala Harris, as a candidate. The competition had been fierce since when Kamala Harris led the presidential election race. Meanwhile, former US President and Republican candidate Donald Trump promised to make America a superpower in Bitcoin. He further said that if he came back to the White House, he would call for an advisory council to work out transparent regulatory guidance for the benefit of the whole industry. He refused, at the same time, however, to propose a formal federal reserve of digital currency.

Trump addressed the Bitcoin conference on Saturday. In his address, he promised to sack Securities and Exchange Commission Chairman Gary Gensler and create a strategic national bitcoin reserve. Trump, 78, said, "I am planning to make sure that America will be the crypto capital of the planet and the bitcoin superpower of the world." Bitcoin is the world's first widely adopted cryptocurrency.

Trump also warned that bitcoin investors will be crushed if Vice President Kamala Harris becomes president. He said, "They (Democrats) want to strangle you. They want to put you out of business. We will not let that happen. And now your government will not stand silently watching bitcoin-related jobs and businesses flee to other countries, because US laws are too strict. We will keep all Bitcoin jobs in America."