Trump promises to make America a bitcoin superpower, announces setting up of crypto advisory council
US: Trump also warned that if Vice President Kamala Harris becomes president, bitcoin investors will be crushed. He said that they (Democrats) want to strangle you. They want to put you out of business. We will not let this happen.
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."
Donald Trump is the leading party candidate to address the annual cryptocurrency conference. He promised to set up a Bitcoin and Crypto Presidential Advisory Council. Trump said, "I am proud to be the first US president to address a Bitcoin program anywhere in the world." As president, Trump did not consider bitcoin as money. He had also criticized bitcoin, but on Saturday he changed his strategy on the issue.
Trump further said, "America will be richer. The world will be better. Many people will be brought into the crypto business. Those who say bitcoin is a threat to the dollar will have some story. Currently the behavior of the US government is a threat to the dollar." He says that crypto is not a threat to America's financial future. The only threat is from the waste of trillions of dollars, uncontrolled inflation and open borders.
