Former President Donald Trump made a series of promises to support Bitcoin in the United States at the Bitcoin Conference. He proposed the creation of a strategic Bitcoin reserve and the firing of SEC Chair Gensler.
Trump's endorsement of bitcoin could address regulators' resistance, as highlighted by Caitlin Long, Founder of Custodia Bank, who discussed the lack of understanding from regulators that led to Custodia's denied Fed master account. In contrast to U.S. regulators, the Bank for International Settlements allowed banks to hold bitcoin.
Trump's initiatives to integrate bitcoin were also supported by RFK Jr., who proposed matching bitcoin to gold. However, figures like Elizabeth Warren have influenced U.S. regulators' stance on bitcoin.
Trump's support for bitcoin could boost its mainstream acceptance and political significance, as observed by experts at the bitcoin Conference. The growing interest in bitcoin has led to discussions on its potential as a strategic reserve asset, its impact on the U.S. economy, and the role it plays in future elections.
