The former President of the United States, Donald Trump, promised to defend the cryptocurrency market if he is elected in the next election.
During his visit to Washington DC on Saturday evening (25), Trump delivered a historic speech in defense of Bitcoin and cryptocurrencies, stating that he will guarantee the future of the sector in the country.
“I will ensure that the future of cryptocurrencies and the future of Bitcoin is in the US and not driven abroad”Trump said, adding that he will defend the right to self-determination for the 50 million crypto investors in the US.
“I will support the right to self-determination and keep Elizabeth Warren and her minions away from your Bitcoins.”
🚨Trump Gives Historic Speech in Defense of Bitcoin.
“I will defend my self-determination”
“I will never allow the creation of a CBDC”
“I will keep Elizabeth Warren and her minions away from your bitcoins.” pic.twitter.com/TJ6gWHQt7h— Livecoins (@livecoinsBR) May 26, 2024
Trump defends US leadership in the cryptocurrency industry
On his social network Truth, Trump also defended Bitcoin and accused Joe Biden of being corrupt, arguing that the US should lead the cryptocurrency sector.
The message was posted shortly before his speech at the Libertarian National Convention in Washington DC, and comes as both parties aim to attract voters investing in cryptocurrencies ahead of the country’s presidential elections, scheduled for November 5 this year.
In addition to vigorously defending cryptocurrencies, Trump criticized his main competitor and accused the current US president of wanting the industry to die.
“I am very positive and [de mente aberta] for cryptocurrency companies and everything related to this new and fast-growing industry”Trump wrote on his social platform Truth. “Our country must be a leader in this field.”
“Corrupt Joe Biden, on the other hand, the worst president in the history of our country, wants the market [de criptomoedas] die a slow and painful death. This will never happen to me”Trump said.
Trump also said he would commute the Silk Road founder’s life sentence. Ross Ulbrichtfor seniority if re-elected.
“If you vote for me, I will commute Ross Ulbricht’s sentence.”Trump said.
It’s worth remembering that Ulbricht was convicted in 2015 and is currently serving two life sentences. Trump’s announcement about the possible pardon for Ulbricht sparked debate in the cryptocurrency and legal communities.
While some argue that a pardon would offer a second chance to Ulbricht, who has already spent 11 years in prison, others express concern about the consequences of pardoning someone convicted of running a drug market.
Bitcoin should decide the US elections
Be that as it may, Trump is a politician and is trying to attract votes from nearly 50 million cryptocurrency investors in the US.
According to data from Triple-A, the US has 46 million active adult cryptocurrency users who could decide the US election, especially with the lack of clear regulation and consistent crackdown on the market over the past two years.
As such, even Joe Biden appears to be changing the direction of cryptocurrency policy following the sudden approval of Ethereum ETFs by the US Securities and Exchange Commission (SEC), contrary to general market sentiment.
The U.S. House of Representatives also passed the Financial Innovation and Technology for the 21st Century (FIT) Act, which met opposition from the White House but without veto threats.
Such moves are widely interpreted as political acts designed to win votes in the upcoming elections. Bitcoin and cryptocurrencies are therefore expected to determine the US elections for the first time in history.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
