Donald Trump, the Republican presidential candidate, vows to establish the US as the "crypto capital of the world" if elected in November, speaking at the Bitcoin 2024 conference in Nashville.
Trump’s Vision for US Crypto Dominance
Trump, a former president and current Republican presidential candidate, has stated his intention to transform the US into the "crypto capital of the world" if granted the presidency in November.
At the Bitcoin 2024 conference in Nashville, Tennessee, Trump spoke to the audience after running an hour behind schedule. Using the analogy of the "steel industry" in its early days, Trump expressed his deep admiration for the Bitcoin community, Cointelegraph shares.
"Bitcoin is not just a marvel of technology, as you know, it’s a miracle of cooperation and human achievement." He continued by saying that "one day" Bitcoin would surpass gold.
The Bitcoin and cryptocurrency communities would be well-served by Trump's candidacy, he said. The audience would be extremely satisfied with his performance, he told them, if he were elected. After that, he asked everyone in the crowd to thank him for the work he was about to accomplish.
“If crypto is going to define the future, it’s going to be mined, minted and made in America. If Bitcoin is going to the Moon, as they asy, I want it be America that sends it there.”
Kennedy’s Ambitious Bitcoin Reserve Proposal
Robert F. Kennedy Jr., an independent presidential contender, may have generated more buzz at the conference on July 26 by outlining a first policy proposal that would have been Bitcoin-friendly had he been elected.
In his address, he pledged to authorize the US Department of Justice to move the purported 204,000 Bitcoins held by the Federal Reserve into a strategic reserve by means of an executive order.
In addition, he promised that the Treasury Department would be mandated to buy 500 BTC every day until the reserve reached 4 million BTC if he were elected. “A position of dominance no other country will be able to usurp.” The United States, according to Kennedy, would be able to achieve this.
At the end of the day, the US government would own around 20% of all Bitcoin if Kennedy's plans were to materialize.
Snowden’s Warning Against Political Use of Bitcoin
On the other hand, Edward Snowden was among the most-watched speakers at the events on July 26. His speech was completely at odds with the many other speeches given by sitting politicians and would-be US House candidates.
"Cast a vote, but don’t join a cult." Snowden cautioned against using Bitcoin for political purposes. The main point of his speech was to warn that politicians who use their support for Bitcoin and cryptocurrency as a campaign issue are "not our tribe."