- Trump vows to protect Bitcoin and the crypto industry if re-elected.
- He promises to keep the future of Bitcoin in the USA, not driven overseas.
- Trump supports self-custody rights for 50 million crypto holders in America.
- He pledges to block the creation of a central bank digital currency (CBDC).
During a recent speech at the Libertarian Party National Convention, former President Donald Trump made a bold promise to protect Bitcoin and the crypto industry if he is re-elected. He vowed, “If you vote for me on day one. I will commute the sentence of Ross Ulbricht, who has already served 11 years. We’re going to get him home. We’re going to get him home.” He also added, “I will stop Joe Biden’s crusade to crush crypto.”
Trump On Bitcoin Future in the USA
Trump emphasized his intention to ensure that the future of Bitcoin remains in the United States. So, he stated, “I will ensure that the future of crypto and the future of Bitcoin will be made in the USA, not driven overseas.”
So, this promise aims to keep the growing crypto industry within American borders. Preventing it from moving to more crypto-friendly nations due to regulatory pressures.
Protection for Crypto Holders
Trump specifically addressed the rights of crypto holders, saying, “I will support the right to self-custody for the nation’s 50 million crypto holders,” he added, “I say this: with your vote, I will keep Elizabeth Warren and her goons away from your Bitcoin.” Self-custody is the practice of holding and managing one’s own digital assets without relying on a third party.
It is a critical issue for many in the crypto community. So, by supporting this right, Trump aims to empower individuals to have full control over their assets.
Blocking the Central Bank Digital Currency
In a clear stance against centralized control, Trump declared, “I will never allow the creation of a central bank digital currency.” Thus, his statement addresses the fears of many Bitcoin enthusiasts who view central bank digital currencies (CBDCs) as a threat to the decentralized nature of cryptocurrencies.
Trump Plans For Reversing Biden’s Policies
Trump’s also pledge to protect Bitcoin includes rolling back what he calls Biden’s restrictive measures. Thus, he noted, “I will stop Joe Biden’s plan for the largest tax… I will end that, and I will make the Trump tax cuts the biggest in the history of our country.”
Also, he criticized Biden’s approach, describing it as “the massive Biden inflation tax, a stealth tax by which crooked Joe Biden is printing trillions and trillions of dollars and plundering them for the cronies and political friends that he’s got all over Washington.”
Trump Plans and Reforms
Apart from his crypto-specific promises, Trump outlined broader economic reforms. “On day one, I will sign an executive order banning federal agencies from colluding to censor the lawful speech of American citizens,” he said. So, this move is part of his plan to “smash the censorship and industrial complex and restore free speech.”
Additionally, he pledged to “slash a record number of liberty-destroying regulations” and “terminate crooked Joe’s insane electric vehicle mandate.”
Ross Ulbricht’s Commutation
In another significant announcement, Trump promised to commute the sentence of Ross Ulbricht. The founder of the online marketplace Silk Road. “If you vote for me, on day one, I will commute the sentence of Ross Ulbricht, who has already served 11 years,” Trump said. Ulbricht’s case has been a cause célèbre within the crypto community, and Trump’s pledge could help him gather support from his followers.
Conclusion
Donald Trump’s promises are clear. They include rolling back Biden’s economic and environmental policies, restoring free speech, and robustly defending Bitcoin and cryptocurrency. He also assured voters of immediate and decisive actions, reinforcing his commitment to individual freedoms and economic prosperity.
So, as the 2024 election approaches, Trump’s promises, which centered around crypto, could play a huge part in gathering support from Bitcoin enthusiasts and broader financial markets.
Nightcafecreator; Image source
The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
