Trump Claims That If The Democrats Win, Crypto Will Collapse: “All of You Will Be Lost”
Former U.S. President of Nashville
As the Republican nominee attempted to strengthen his hold on the growingly influential crypto voting and funding bloc, Donald Trump took the stage at the Bitcoin Conference on Saturday and declared that the United States must assume a leadership role in the cryptocurrency space.
“China will do it if we don’t,” he declared, addressing a crowded Nashville auditorium that held more than 3,000 people. He compared the cryptocurrency space to “the steel industry of 100 years ago, you’re just in your infancy.” “It will probably surpass gold at some point. It is unlike anything that has ever existed.”
Additionally, he said that Democrats maintaining the for cryptocurrency, White House would be disastrous. “All of you will be gone if they win this election. They’ll be ferocious. They’ll act brutally. They’ll take actions that you won’t believe. However, they are currently leaving you alone because of me.”
With thunderous cheers from the audience, Trump announced on his first day in office that he would fire Securities and Exchange Commission Chair Gary Gensler if he won the November presidential election. Trump remarked, “I had no idea he was that unpopular.” It has been said that Gensler’s SEC is anti-crypto.
After entering office, Trump declared that he would form “a bitcoin and crypto advisory council”.
reports claim that they raised tens of millions of dollars and attracted executives. Thousands of bitcoin supporters waited in queue for hours to meet the former president, who had earlier decried digital assets and was now a convert to cryptocurrency. At a bitcoin event, he is now the first president to make an appearance.
He stated there were many legends in the room and praised the event’s organisers in the opening remarks. Michael Saylor of MicroStrategy and Tyler and Cameron Winklevoss, the creators of the Gemini cryptocurrency exchange, were among the cryptocurrency figures whom Trump name-checked.
When Trump announced his candidacy for the 2024 presidential race in late May, the cryptocurrency world took off. He said, “If you’re in favour of crypto you’re gonna vote for Trump because they want to end it.”
His adoption accelerated a partisan realignment within the highest levels of the cryptocurrency business. Well-connected people who had historically supported Democrats, including hedge fund lawyers, startup founders, and financiers, started whispering about backing Trump as a remedy for years of perceived bullying from President Joe Biden’s regulatory state.
They were joined at this three-day conference by hordes of ardent Trump supporters who flocked to Nashville donning hats that read “Make Bitcoin Great Again” in every hue. For many of the 20,000 in attendance, backing Trump appeared inevitable. It so occurred that he now backed bitcoin as well.
Leaders in the industry in Nashville applauded Trump’s turnabout behind closed doors with large sums of money to support his campaign; a fundraiser asked for about $900,000 per ticket just before his address. In Nashville, several contenders further down the ticket hosted their own fundraisers.
Many who support cryptocurrency believe that Trump is the most qualified candidate to change unfavourable U.S. regulations, and they view the 2024 election as their greatest opportunity to accomplish it. Even though, during his administration, he had previously maintained that bitcoin “was based on thin air.”
Ever the salesman, Trump launched popular NFT collections featuring himself in various nationalistic poses after leaving the White House. The businessman’s perspective on the industry he had previously dismissed changed as a result of their millions of dollars in earnings.
Prior to Biden’s withdrawal from the contest, his
campaign made no attempt to win over Bitcoin enthusiasts or cryptocurrency enthusiasts, even going so far as to refer to the Trump NFT customers as “suckers.” For many in the cryptocurrency community, Biden’s message was the last straw following years of what they saw as lawfare from Biden-appointed Securities and Exchange Commission Chair Gary Gensler, who maintains the industry is mostly breaking US law.
The rise of Vice President Kamala Harris could present an opportunity for Democrats to realign. Legislators are on her to make changes. However, the presumptive Democratic front-runner for the presidency has failed to wow.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
SOURCE : CoinDesk
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