NASHVILLE, Tenn. (AP) 鈥� Former President on Saturday laid out his plans to wholeheartedly embrace if elected for a second term, telling hundreds of cheering supporters of the digital tokens that he wants the U.S. to be a 鈥渂itcoin superpower鈥� under his leadership.
In his keynote address at a conference in Nashville, Tennessee, the Republican presidential nominee promised to make the United States the 鈥渃rypto capital of the planet鈥� and create a bitcoin 鈥渟trategic reserve鈥� using the currency that the government currently holds.
He also promised to remove Securities and Exchange Commission Chair if elected and implement a crypto advisory council, teasing the crowd by asking attendees if anyone wanted to join.
鈥淲e will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry,鈥� he said.
Trump's keynote address at the Bitcoin 2024 conference showed how radically his position on cryptocurrency has changed over time.
He was not always a fan of cryptocurrencies, writing on social media in 2019 that their 鈥渧alue is highly volatile and based on thin air.鈥�
He has embraced the digital currency in recent years, and in May, his campaign began accepting donations in cryptocurrency.
Throughout the nearly 50-minute speech, Trump repeatedly sought to contrast his support of cryptocurrency to the Biden鈥檚 administration , telling the crowd that the federal government was 鈥渂locking your way.鈥� Trump said he wanted cryptocurrency 鈥渕ined, minted and made鈥� in the United States.
The former president appealed to bitcoin fans by pointing to U.S. law enforcement seizures of the digital token.
鈥淭hey took it away from you,鈥� he said. 鈥淪o, as I take steps to transform that vast wealth into a permanent national asset to benefit all Americans, today I repeat my promise to commute the sentence of Ross Ulbricht.鈥�
Ulbricht created the underground drug-selling website Silk Road but was sentenced to life in prison after a judge held him responsible for six overdose deaths linked to his website. Some of the nearly 800 attendees who flocked to downtown Nashville to hear Trump speak wore 鈥淔ree Ross Day One鈥� hats, in a nod to Ulbricht's prison sentence.
Tennessee鈥檚 U.S. Sen. Marsha Blackburn called Trump鈥檚 announcement of a bitcoin strategic reserve a 鈥渉istoric moment.鈥�
Trump's remarks came a day after independent presidential candidate addressed the conference and also pitched launching a strategic bitcoin reserve.
___
Associated Press writer Ali Swenson in New York contributed to this report.
Kimberlee Kruesi, The Associated Press
