In a spirited keynote address, Former President Trump promised to make USA the “bitcoin super-power of the world,” ensuring that cryptocurrency is “mined, minted, and made in the USA.”

“We have to talk about Bitcoin. Our country is blessed with the extraordinary talent and genius in this room.

This spirit built America and will help us make it great again.

I admire what the Bitcoin community has achieved. In just 15 years, Bitcoin has gone from an idea to the 9th most valuable asset in the world.

It’s already bigger than ExxonMobil and soon it will surpass the market cap of silver.

That’s a big deal.”

He went on with some big promises:

“I pledge the day I take office the weaponization against Bitcoin ends.”

“On day one, I will fire Gary Gensler and appoint a new SEC Chairman.”

“I will immediately shutdown Operation Chokepoint 2.0”

Trump also confirmed that he will appoint a crypto advisory council with “regulations written by industry-loving people within 100 days.”

Trump also confirmed that “there will never be a CBDC” while he is president.

“Those who say that bitcoin is a threat to the dollar have it exactly backwards, the danger to our financial future comes from Washington DC not crypto.”

Additionally, the former president pointing out that

“Bitcoiners understand inflation better than anyone. You all understood it first.”Promising to ‘drill, baby, drill’, Trump notes that with low energy costs the USA will become the undisputed bitcoin mining center of the world.

Finally, Trump dropped the big guns:

“The policy of the Trump administration will be to keep 100% of all that it currently holds as the core of the strategic national bitcoin stockpile,” and confirmed his promise to commute the sentence of Ross Ulbricht to time-served.

Bitcoin price has risen significantly in the last 24 hours in anticipation of Trump’s speech…

Notably, the Democrats appear to be worried that crypto could be a vote-change for many people (and are pushing back against the Warren/Gensler attacks). A number of Democratic congressmembers have penned a letter to the DNC pushing for change…

Over 52 million Americans have embraced digital assets, seeing them as a means to democratize finance, spur innovation, and create new economic opportunities.

According to recent polls. 19% of voters have bought crypto, 19% self-identified as Democrats, 18% as Republicans, and 24% of crypto-owning voters are independents.

Data shows that digital assets are being adopted at higher rates among Gen Z, Black and Latino Americans, and immigrant communities key constituencies of the Democratic party compared to traditional financial products. These technologies are revolutionizing opportunities for these communities, reflecting their transformative potential.

From an electoral standpoint, crypto and blockchain technologies have an outsized impact in ensuring victories up and down the ballot. Crypto is at the top of voters’ minds in swing states, and a balanced approach to crypto that spurs innovation while protecting consumers is a net positive for policymakers and candidates.

Over 20% of voters in key battleground states identified crypto as a major issue in the 2024 election, and it is critical that our party presents a persuasive case to crypto voters while ensuring that consumers benefit from thoughtful and appropriate regulation.

The current financial system has left Americans behind.

According to recent surveys, 4 in 5 voters agree with the statement, “The current financial system favors elites over regular people.” Digital assets and blockchain technology are not merely financial instruments but represent a revolutionary shift that can enhance transparency, reduce fraud, and create a more inclusive financial system.

We believe this technology is non-partisan, and the Democratic Party should also champion these innovations to help reaffirm the U.S.’s position as the leader in the global digital economy.

They then make four suggestions that the DNC should back off the attacks on crypto:

In the sixteen months since, we have seen a seismic shift in attitudes towards crypto from both Independents and Republicans; while Democrats continue to demonize the sovereign currency.

Independent presidential candidate Robert F. Kennedy Jr. praised the role Bitcoin could play in improving the US economy and the American way of life as he spoke to an audience at the Bitcoin 2024 conference on July 26. He promised to sign a number of executive orders on his first day in office to begin the process.

Kennedy would sign an order requiring the US Justice Department and US Marshalls to transfer the 204,000 Bitcoin held by the US to the Federal Reserve to be held as a “strategic asset,” he said.

Furthermore, Kennedy said he would also order the Treasury Department to purchase 500 Bitcoin daily until the reserve reaches at least four million BTC.

The United States would attain “a position of dominance no other country will be able to usurp” and its Bitcoin reserve would eventually reach a value of “hundreds of trillions of dollars,” he promised.

In addition, CoinTelegraph’s Derek Andersen reports that Kennedy would order the Internal Revenue Service (IRS) to treat all transactions between Bitcoin and the US dollar as nonreportable and nontaxable. He would also order the IRS to treat Bitcoin as eligible for exchange into real property under the 1031 Exchange program, which provides incentives for real estate investment.

“Transactional freedom [is] as important as freedom of expression in the 1st Amendment,” Kennedy said, and Bitcoin can provide that freedom and help restore the United States economy to its condition before President Richard Nixon took the US dollar off the gold standard to fund the Vietnam war. Kennedy added:

“Fiat currency was invented to fund war. […] If the world was on a BTC standard, there would be no more war because you can’t print Bitcoin.”

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