Trump Backs Bitcoin as U.S. Reserve Currency
In a groundbreaking speech at the Bitcoin Conference in Nashville, former President Donald Trump unveiled a series of crypto-friendly policies that, if he returns to the White House, could reshape the U.S. financial landscape.
Key Highlights:
- Bitcoin as Strategic Reserve: Trump vowed to add Bitcoin to the U.S. strategic reserve, marking a dramatic departure from traditional monetary policy.
- CBDC Halt: The former president promised to stop the development of a central bank digital currency (CBDC), citing concerns over government control.
- SEC Shakeup: On his first day in office, Trump pledged to dismiss SEC Chairman Gary Gensler, signalling a potential easing of crypto regulations.
- Crypto Capital Vision: Declaring the U.S. should become the “crypto capital of the planet,” Trump predicted Bitcoin’s market cap could surpass gold’s.
- Dollar Dominance: Despite his pro-Bitcoin stance, Trump maintained that Washington’s policies, not cryptocurrencies, are the real threat to USD supremacy, a statement that is sure to pique the interest of financial analysts and policymakers.
Market Impact: Bitcoin edged up following Trump’s remarks.
Analysis: This policy pivot represents a shift from the current administration’s approach to digital assets. These proposals could dramatically alter the regulatory landscape for cryptocurrencies and potentially accelerate mainstream adoption.
