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Politics
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Trump's Vision for US Dominance in Global Crypto Market
2024-07-28 05:50:08
Blockchain

Trump's Vision for US Dominance in Global Crypto Market

Former President Donald Trump is leading a push to establish the US as the world's crypto leader. At the Bitcoin Conference, he unveiled plans for a national Bitcoin reserve and encouraged domestic Bitcoin mining.

Senator Cynthia Lummis supports this by proposing the US government purchase 5% of the total Bitcoin supply to alleviate national debt. Trump also vowed to dismiss Gary Gensler from the SEC, emphasizing his pro-crypto stance.

These initiatives mark a significant shift from Trump's previous criticism of Bitcoin, setting a new course for US involvement in the global cryptocurrency market.

Related news on that topic:

President Trump and RFK Jr. headline Bitcoin Conference, boosting ... crypto credibility

The Bitcoin Conference in Nashville features former President Trump and presidential candidate RFK Jr., signaling bitcoin's growing mainstream acceptance. The U.S. government's $13 billion bitcoin holdings and tech leaders' engagement, like Elon Musk's Twitter activity involving Bitcoin CEO David Bailey, suggest bitcoin's rising importance in national finance. Blockchain technology presents opportunities for digital rights management and smart economies, as highlighted by Moby Media's CEO, BeL2's head of operations, and conference anchor Rob Nelson. The conference is expecting a near-record crowd and is taking increased security measures due to the recent attempt on Trump's life. Politicians, including Senators Hagerty and Blackburn, and Rep. Khanna, will also speak at the conference, reflecting the industry's growing political influence in the 2024 election year. Attendance is expected to range from 20,000 to 45,000 attendees, up from a drop during the bear market and exceeding the 12,000 attendees in 2022. Elon Musk may attend the conference, sparking speculation about his presence alongside Trump. Kennedy defended the crypto industry against accusations of environmental harm caused by mining activities. Bitcoin advocate Samson Mow proposes six ideas to integrate Bitcoin into the US economy for Trump ahead of his speech at the conference.

Trump's Bold Moves in Bitcoin Realm

Former skeptic Trump now vows to dismiss SEC chairman, create crypto advisory board, and bolster Bitcoin in government. Trump seeks NFTs, crypto donations, garnering support from major investors. If re-elected, he plans to retain government's Bitcoin holdings. Prominent figures like Andreessen and Horowitz back Trump over Democrats' crypto stance. Trump's campaign already raised $4 million in digital tokens. At Bitcoin2024, he vows to oust anti-crypto Gensler, emphasizing Bitcoin's importance. Supporters rally as Trump aims to integrate crypto into economic policies.

Read 2 more recent news on this topic

The press radar on this topic:

The Defiant
27. Juli 2024 um 21:20

Trump Speaks at Bitcoin2024, Says He'll Fire Gary Gensler On Day One

Politics
On the final day of Bitcoin2024, Donald Trump claimed he will end Gary Gensler’s rule at the Securities and Exchange Commission (SEC), the notoriously anti-crypto government agency.“I will fire Gary Gensler on Day One,” he said to a resounding applause from conference attendees. “I didn’t know he was so disliked.”In a highly anticipated keynote speech with people clamoring on the streets when he arrived, Trump had plenty of words of praise for Bitcoin, and the need to make it an integral part..
CoinDesk
27. Juli 2024 um 21:11

U.S. Senator Lummis Proposes the U.S. Buy 1M Bitcoin to Reduce National Debt

Politics
Finance
At the Bitcoin Conference in Nashville, U.S. Senator Lummis announced plans to introduce legislation for a "strategic bitcoin reserve" to reduce national debt by buying 1 million bitcoin over 5 years, to be held for at least 20 years. The $68 billion plan, endorsed by former President Trump who said a Democrat win "will be disaster for crypto" and "every one of you will be gone", is described by Lummis as a "Louisiana purchase moment".
Cointelegraph.com News
27. Juli 2024 um 22:53

Sen. Lummis proposes US government purchase 5% of total Bitcoin supply

Politics
Finance
Senator Cynthia Lummis introduced a bill for the US government to purchase 5% of the total Bitcoin supply, 1 million BTC over 5 years at $68.1 billion based on CoinMarketCap data, to be held for 20 years to reduce debt. She announced this at the Bitcoin 2024 Conference, calling it the "Louisiana purchase moment" for Bitcoin. Lummis' speech followed a keynote by former President and current Republican candidate Donald Trump, who pledged to make the US the crypto capital. Lummis also recently re..
Kinh doanh - VnExpress
28. Juli 2024 um 02:52

Trump muốn Mỹ thống trị tiền số toàn cầu

Politics
Technology
Economy
At the Bitcoin Conference in Nashville, Tennessee, Trump vowed to make the US the global leader in crypto, pledging a national Bitcoin reserve and encouraging US firms to mine Bitcoin. His pro-crypto stance now contrasts his 2021 criticism, when he called it a "scam" competing with the USD. Trump aims to prevent China from dominating this field, as China has long cracked down on crypto. Supporters like Strike CEO Jack Mallers see his Bitcoin reserve plan as a major step in crypto legalization...
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