In a surprising turn of events, former US President Donald Trump has declared his support for bitcoin and cryptocurrency, vowing to be a “pro-bitcoin president” if elected in November.
Speaking at a conference in Tennessee, Trump criticized the Biden-Harris administration’s stance on crypto, saying, “The Biden-Harris administration’s repression of crypto and bitcoin is wrong, and it’s very bad for our country.”
Trump likened cryptocurrencies to the growth of the steel industry 100 years ago and stated, “Bitcoin stands for freedom, sovereignty, and independence from government coercion and control.”
He promised to create a “strategic national bitcoin stockpile” by not selling the US government’s bitcoin holdings and to make US energy the cheapest in the world to support cryptocurrency mining.
Trump also targeted regulatory bodies, vowing to fire Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), on his first day in office.
The crowd erupted in approval, with Trump joking, “I didn’t know he was that unpopular.”
Trump also pledged to end Vice President Kamala Harris’s “anti-crypto crusade” and told the crowd, “You’re going to be very happy with me.”
This marks a significant shift in Trump’s stance on cryptocurrency, from skeptic to supporter.
