TL;DR

Donald Trump has promised that the future of Bitcoin will be forged in the United States and he will oppose the creation of a central bank digital currency (CBDC).
Donald has committed to commuting the sentence of Ross Ulbricht and defending the “right to self-custody” for crypto users, in an attempt to gain favor from the community.
The former president has started accepting donations in various cryptocurrencies and promises to form a “crypto army” in opposition to Elizabeth Warren’s “anti-crypto army.”

Following a shift in his stance, former President Donald Trump has reaffirmed his support for cryptocurrencies, promising that the future of Bitcoin will be forged in the United States. During his speech at the Libertarian National Convention, Donald emphasized his commitment to the crypto industry and assured that he will strongly oppose the creation of a central bank digital currency (CBDC).

Trump made several promises to the audience, including defending the “right to self-custody” for the 50 million crypto users in the country. In a message that resonated strongly with attendees, he affirmed his intention to “keep Senator Elizabeth Warren away from his Bitcoins,” a direct reference to the senator’s well-known critical stance towards the crypto industry.

Additionally, he pledged to commute the sentence of Ross Ulbricht, the founder of Silk Road, who is currently serving a double life sentence. This gesture was seen by many as an attempt to win favor from the crypto community, which considers Ulbricht a controversial yet influential figure.

Before the event, Donald had expressed on his social network, Truth Social, his openness and positive attitude towards crypto companies and their growing industry. He argued that the United States must lead in this field and accused the Joe Biden administration of wanting the crypto industry to “die a slow and painful death.”

Trump Forces Democrats to Become More “Pro-Crypto”

This support represents a 180-degree turn in the magnate’s stance, who just a few years ago described Bitcoin as a “scam.” He recently announced that he had started accepting campaign donations in various cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Shiba Inu, and the Trump-themed Maga Memecoin.

Trump has promised to build what he calls a “crypto army” in opposition to Warren’s “anti-crypto army.” Donald aims to capitalize on the anger and concerns of the crypto community in America.

While some suggest that Donald’s support for cryptocurrencies is simply a tactic to gain support, he has made it clear that he is “having fun with these new and crazy coins.” His call to the community to “vote for Trump” could be an influential factor in the upcoming presidential race, and there has already been a noticeable shift in the Democratic Party’s stance towards less restrictive cryptocurrency regulation.

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Filed under: News - @ May 27, 2024 12:24 pm