Trump’s Pro-Crypto Speech
Trump Crypto President delivered a powerful speech at the Bitcoin 2024 conference in Nashville, where he pledged to make America “the Bitcoin superpower of the world.”
His commitment to deregulating the industry was met with widespread support from attendees, marking a significant shift from his earlier stance when he labelled Bitcoin a “scam.” Trump’s declaration, “My job will be to set you free,” captured the enthusiasm of a community frustrated with the current regulatory environment.
Also Read: All About Trump Bitcoin Conference | The Trump Nashville Speech 2024 vs Bitcoin
Trump crypto speech Impact on Bitcoin & Crypto Community
The impact of Trump’s speech was immediate, with Bitcoin briefly hitting a six-week high of $70,000. Key promises made during the speech included creating a strategic national bitcoin stockpile and dismissing SEC Chair Gary Gensler, a known critic of cryptocurrency. These promises resonated with industry leaders who have felt stifled by what they describe as the Biden administration’s “brutal assault” on crypto.
Reactions from Crypto Leaders
The reactions in the crypto community have not been uniform. Shervin Pishevar, a venture capitalist, and other well-known individuals lauded Trump for his backing, contrasting him with the regulatory tendencies of the present administration.
On the other hand, critical comments came from Vitalik Buterin who co-founded Ethereum about supporters of Trump’s candidature hoping to benefit financially from that. He questioned if he was truly committed to transforming cryptocurrency policies. Trump’s designation as ‘the crypto president’ is still catching on despite these doubts and is boosting bitcoin enthusiasts’ quest for a better legal framework for cryptocurrencies.
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