Donald Trump is writing history as the first openly pro-Bitcoin and crypto president of the United States. After gaining a majority in crucial swing states, Trump has clinched his second term, positioning him as the 47th President. Although the final results are yet to be confirmed, his opponent, Kamala Harris, no longer stands a chance of winning.
Now it is important that Trump keeps his promises. During the election campaign, Trump made a number of promises to the BTC and crypto community which led to many crypto investors getting “single-issue” voters.
#1 National Bitcoin Reserve
Trump proposed the establishment of a national BTC reserve. “If elected, it will be the policy of my administration to keep 100% of all the Bitcoin the US government currently holds or acquires into the future,” Trump said during the Bitcoin 2024 conference, adding that the funds would serve as the “core of the strategic national Bitcoin stockpile.”
During an interview with FOX Business, Trump even pondered paying off the US national debt with BTC. “Who knows, maybe we’ll pay off our 35 trillion dollars, hand them a little crypto check. We’ll hand them a little Bitcoin and wipe out our 35 trillion dollars,” Trump said.
#2 Promote US Based Bitcoin Mining
Trump has advocated for all BTC mining to be conducted within the United States, aiming to make the country a powerhouse in the mining industry. Trump said this as part of a broader initiative to ensure that the technological and economic benefits of Bitcoin and crypto innovations contribute to the US economy.
Following a BTC mining roundtable with industry leaders, Trump said, “Bitcoin mining may be our last line of defense against a CBDC.” He added, “We want all the remaining Bitcoin made in the USA.”
#3 Regulatory Clarity
Trump has promised sweeping changes in crypto regulation, including the removal of Gary Gensler as the Chairman of the Securities and Exchange Commission (SEC). He also plans to dismantle Operation Choke Point 2.0, an initiative the industry views as an overreach affecting legitimate business operations.
During the Bitcoin 2024 conference, Trump clarified: “When we see the attacks on crypto, it’s part of a much larger pattern that has been carried out by the same left wing fascists to weaponize the government against any threat to their power.”
#4 Advisory Council On Crypto
Trump plans to appoint a BTC and crypto presidential advisory council. This body would guide US policy related to digital assets, aiming to incorporate expert opinions into the regulatory framework to foster innovation while ensuring stability and security in the digital currency space
#5 Commutation Of Ross Ulbricht’s Sentence
Trump has reiterated his pledge to commute the sentence of Ross Ulbricht, the founder of Silk Road, who is serving a life sentence. The new upcoming US president said several times during his campaign: “On Day One, I will commute the sentence of Ross Ulbricht.”
At press time, BTC traded at $74,399.
