Trump proposes strategic national crypto stockpile

[cr1776]

This was certainly the headline:
“Trump proposes strategic national crypto stockpile: ‘Never sell your bitcoin’”

https://www.cnbc.com/2024/07/27/trump-bitcoin-conference-harris.html


“The Biden-Harris administration’s repression of crypto and bitcoin is wrong and it’s very bad for our country,” Trump said. “Let me tell you if they win this election, every one of you will be gone. They will be vicious. They will be ruthless. They will do things that you wouldn’t believe.”

[cr1776]

“You are building America’s future with your own smarts, your own grit and your own skin in the game,” he said. “My job will be to set you free.””

[Hazink]

NASHVILLE — Former President Donald Trump said that if he were returned to the White House, he would ensure that the federal government never sells off its bitcoin holdings. But he stopped short of proposing a formal federal reserve of digital currency.

What did he mean by this? Is he referring to Bitcoin holdings of the United States acquired by seizure, or have they made any Bitcoin acquisitions for the purpose of reserve? If there have been any, I will love to read about it.

On day one, I will fire Gary Gensler,” Trump said, referencing the Biden-appointed chairman of the Securities and Exchange Commission who has taken an aggressive approach to crypto regulation.

That's a bold statement he made right there. No doubt the SEC chairman has really been against bitcoin, fighting against everything that the currency stands for.
 
He sees it as a big threat, but saying he will fire him on his first day in office is a bold statement, but yet I see it as an unwise one. It's wiser to say that he will be relieved from his duties as he can still remain in the agencies serving without, although earlier before now I read somewhere they said Gary Gensler will either resign or retire from office in ffice on the year 2025. 

[Davidvictorson]

I will take Trump seriously on his proposed strategic national crypto stockpile if he first fires bitcoin number one archenemy - Mr Gary Gensler. I will take Trump seriously on his proposed strategic national crypto stockpile if he frees Ross Ulbricht.

[nelson4lov]

I had free time some two hours ago to watch the conference which was heavily delayed due to Trump's lateness. But that's btw. Trump made a lot of big promises on that stage and I will be pleasantly surprised if he even gets to fulfill even half of those promises. He is right about one thing though — If Bitcoin is the biggest thing that's going to be around for the future, United States needs to get in and get in big.

There is one fact he mentioned that I've seen been discussed on the forum on multiple occasions and that's the fact that Bitcoin itself isn't a threat to the dollar.

[EFS]

It doesn't matter what a pathological liar says. He can tell any lie he wants to get the vote of the audience he is speaking to. I don't recommend taking anything he says seriously.
I agree with only one thing he says: "Never sell your Bitcoin."

[Luzin]

I had free time some two hours ago to watch the conference which was heavily delayed due to Trump's lateness. But that's btw. Trump made a lot of big promises on that stage and I will be pleasantly surprised if he even gets to fulfill even half of those promises. He is right about one thing though — If Bitcoin is the biggest thing that's going to be around for the future, United States needs to get in and get in big.

I read in the local media that there were about 8 promises that he made. If all is fulfilled, I feel optimistic that Crypto in the future will have more and more room for development. But indeed, I always remember the political year in my country. There will be many promises made to gain the sympathy of many people. But once they got what they wanted, they forgot about the promise he made. Or they give excuses because promises are not fulfilled. I hope that doesn't happen in the US.

 

[Don Pedro Dinero]

I think we have to stick with the big picture here, regardless of whether we like Trump or not. This is the first US presidential election in which bitcoin plays an important role. We have a candidate who is certain not to win, Kennedy, who is totally pro-bitcoin, and another candidate, who is ahead in the polls, has given a speech at the bitcoin conference that many of us would have dreamed of when I registered on the forum 7 years ago.

[snerd]

I think we have to stick with the big picture here, regardless of whether we like Trump or not….l.l

Not possible for the TDS’ers out there. They literally cannot see past their irrational hatred of him. What a mental state to be in!

[examplens]

I had free time some two hours ago to watch the conference which was heavily delayed due to Trump's lateness. But that's btw. Trump made a lot of big promises on that stage and I will be pleasantly surprised if he even gets to fulfill even half of those promises. He is right about one thing though — If Bitcoin is the biggest thing that's going to be around for the future, United States needs to get in and get in big.

There is one fact he mentioned that I've seen been discussed on the forum on multiple occasions and that's the fact that Bitcoin itself isn't a threat to the dollar.

Does anyone believe that Trump alone as acting president (if elected) can make important decisions? The president is just a figurehead, certainly not someone who decides in which direction things will take place. The fact that he is persistently talking now (after 15+ years of Bitcoin's existence) is only for the reason that huge money is involved.
At the same time, the US has obviously already adopted some long-term strategy regarding Bitcoin and crypto, regardless of whether the president is Biden or Trump or someone else.

[Marvell1]

I will take Trump seriously on his proposed strategic national crypto stockpile if he first fires bitcoin number one archenemy - Mr Gary Gensler. I will take Trump seriously on his proposed strategic national crypto stockpile if he frees Ross Ulbricht.

In a previous statement, Trump mentioned that he would release Ross Ulbricht if elected, but yesterday at the bitcoin conference, he only affirmed his commitment to a reduced sentence, not an immediate release. Regarding the firing of Gary Gensler, he also mentioned this issue at the bitcoin conference today. If he is really as serious about bitcoin as he claims, he will do these things as soon as he takes office. But about turning bitcoin into a reserve asset, I'm really skeptical because I don't think he can decide and approve it easily. Congress and the Fed are the ones who decide this, a president can make proposals but cannot easily pass them himself.


https://x.com/WatcherGuru/status/1817304414807343407

[kryptqnick]

While there were a lot of rumors leading up to the event that Trump would declare making a Bitcoin strategic reserve, that did not happen at the conference, according to the article you've shared. CNBC writes that "he stopped short of proposing a formal federal reserve of digital currency". His ideas were more vague, like the US becoming a crypto capital, and forming a crypto advisory council, but that is not the same thing. The stockpile thing is in the title of the article by CNBC, but it I'm just writing to clarify that it's not a strategic reserve, as the call can be misleading and make people believe that the rumor about the reserve was true.

[Luzin]

While there were a lot of rumors leading up to the event that Trump would declare making a Bitcoin strategic reserve, that did not happen at the conference, according to the article you've shared. CNBC writes that "he stopped short of proposing a formal federal reserve of digital currency". His ideas were more vague, like the US becoming a crypto capital, and forming a crypto advisory council, but that is not the same thing. The stockpile thing is in the title of the article by CNBC, but it I'm just writing to clarify that it's not a strategic reserve, as the call can be misleading and make people believe that the rumor about the reserve was true.

I haven't seen the original video, maybe a lot of media is wrong in digesting Trump's sentence. But I think campaign sentences always have ambiguous meanings. This means that the sentence can later change in time. I did read 8 important points, but it seems that they all point to policies that support the development of Crypto in the United States.

This condition certainly makes me happy because the world's crypto episentrum is currently in America. The policies that emerge always have a major effect on crypto movement patterns. So if it is concluded that if Trump is able to become president again, it will be very good. But I also hope that Trump's opponents can also provide good policies later if Trump loses.

[DooMAD]

Just so I've got this clear, the man who has....

*checks notes*

bankrupted everything he's ever touched, wants to....

*check notes*

make financial decisions.... 


And you idiots think that's a great idea?  I weep for the fucking world. 

[namaidani]

I also follow such events and want to say that there is a lot of falsehood in politics. When someone wants office, they make promises left and right to get the most support from the voters. And when the goal is achieved, as time shows, such politicians do not fulfill half of their promises. In order to justify that they have not fulfilled this or that promise, they nod and blame other authorities, which seem to stand in the way and prevent them from making this or that decision. Politicians who have been in politics should report to the public about what they have already done, particularly regarding Bitcoin, which has been around for years and has already survived several presidents. Tell the public what exactly this or that politician tried to do for Bitcoin and what prevented him from doing it. Trump has already been president and I think he should report what exactly he tried to do for cryptocurrencies and bitcoins and why he didn't do it, where he failed, where he got in the way, where he didn't take into account the potential of cryptocurrencies and how does he want to fix it when he becomes president? After all, Bitcoin didn't come into being yesterday and Trump isn't running for office for the first time, he's not new to politics. Of course, you want to believe in the positive and that everything will be fine, time will tell.

[boyptc]

I like Trump in some of his interviews and stance with peace and how he should deal with it. But I guess this is a typical politician that we all have. That's very too good to be true if it happens but if he'll prove us wrong about that plan he's got, kudos to him.

There's more to wait and his candidacy isn't just going to center about Bitcoin.

Look at all the industries that he's campaigning, he'd certainly say good things about it so that they'd be with him.

[Die_empty]

I think we have to stick with the big picture here, regardless of whether we like Trump or not. This is the first US presidential election in which bitcoin plays an important role. We have a candidate who is certain not to win, Kennedy, who is totally pro-bitcoin, and another candidate, who is ahead in the polls, has given a speech at the bitcoin conference that many of us would have dreamed of when I registered on the forum 7 years ago.

Donald Trump might be a liar and a convict, but he is giving Bitcoin massive publicity. Having a leading US presidential candidate speak well about Bitcoin is a good thing. However, I will not vote for a candidate because he made some promises about Bitcoin. Other areas, such as immigration, war in Gaza and Ukraine, police reforms,  economy, etc, should also be considered before voting for the candidate. Who is even sure that Donald will implement all the things he has promised the Bitcoin community?

[Finestream]

It doesn't matter what a pathological liar says. He can tell any lie he wants to get the vote of the audience he is speaking to. I don't recommend taking anything he says seriously.
I agree with only one thing he says: "Never sell your Bitcoin."

Just listen to him but never expect. Trump is still one of those politicians who are good in breaking their promises. So it’s better if we won’t be taking his words seriously, most particularly for the bitcoin community. We’ll wait and see then if he’s going to win this upcoming election, if he’s still be taking the same words about bitcoin. For now, it’s safer to never expect at all. After all, bitcoin will still be bullish in time even without Trump around.

[LandDAO]

Trump's idea of a national crypto stockpile and telling everyone not to sell their Bitcoin is pretty bold. It's interesting to see him so openly support crypto, especially compared to the current administration's more cautious stance.

[Wind_FURY]

We know Trump doesn't know ANYTHING about Bitcoin, nor does he care about Bitcoin. But who's giving him advise in these matters? Because the decision to HODL an asset as a Strategic Reserve, that has the nature and characteristics of Bitcoin definitely ISN'T WRONG. Because if they won't do it first, then Russia or China might do it first.