Trump vows to make US "crypto capital of the planet" after switching stance on Bitcoin

Nashville, Tennessee - As former President Donald Trump fights for re-election, he is now trying to win over a demographic he was once highly dismissive of.

Republican presidential candidate Donald Trump recently promised to save cryptocurrency if elected, though he has been critical of the industry in the past.
Republican presidential candidate Donald Trump recently promised to save cryptocurrency if elected, though he has been critical of the industry in the past.  © JON CHERRY / GETTY IMAGES NORTH AMERICA / GETTY IMAGES VIA AFP

On Saturday, the Republican candidate attended the Bitcoin 2024 conference, where he gave a speech in an effort to connect with cryptocurrency enthusiasts.

"Sadly, we see the attacks on crypto," Trump told the crowd. "It's a part of a much larger pattern that's being carried out by the same left-wing fascists to weaponize government against any threat to their power. They've done it to me."

Trump laid out his plan to make the US "the Bitcoin superpower of the world," which included firing Securities and Exchange Commission chair Gary Gensler, creating a "strategic national bitcoin stockpile," expanding Bitcoin mining, and shutting down what he calls the "anti-crypto crusade" of President Joe Biden's administration.

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He also promised to create a council to regulate the industry, which will be made up of people who "love" the industry, not "hate" it.

Trump walks back past criticisms of cryptocurrencies

"America will once again be a nation that protects property rights, privacy, freedom of transaction, freedom of association and freedom of speech," Trump said.

His new attempt to win over crypto fans marks a significant policy change, as Trump has been openly critical of the industry in the past.

In 2019, Trump shared in a social media post that he was "not a fan" of cryptocurrencies, describing them as "not money" and "highly volatile and based on thin air."

Cover photo: JON CHERRY / GETTY IMAGES NORTH AMERICA / GETTY IMAGES VIA AFP

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