Crypto

The 47th President’s Crypto Plan: A Detailed Look At Trump’s Ten Industry Promises

The election of Donald Trump as the 47th president of the United States has significantly influenced the financial markets, particularly the burgeoning cryptocurrency sector. Following his victory announcement, Bitcoin experienced an unprecedented surge, reaching a new all-time high of $75,385. This remarkable rebound signifies a pivotal moment for digital assets and marks a fresh era of growth and optimism within the crypto industry.

Trump’s Vision for the Cryptocurrency Landscape

With Trump re-entering the White House for the 2025-2029 term, he has laid out a series of strategic promises during his campaign that aim to shape the future of digital assets in the United States. Among these promises, one stands out: his commitment to making the US the “crypto capital of the world.” This ambitious goal includes maintaining the federal government’s Bitcoin holdings, ensuring that America retains 100% of all Bitcoin currently held or acquired from assets seized from financial criminals.

During a pivotal keynote speech at the 2024 Bitcoin Conference in Nashville, Tennessee, Trump underscored the importance of holding onto Bitcoin. This stance aligns with the widely embraced community principle of “never sell your Bitcoin.” In another bold move, Trump has vowed to dismiss the current US Securities and Exchange Commission (SEC) Chairman, Gary Gensler, on his first day in office. Gensler’s tenure has been marked by numerous lawsuits against crypto firms, which many in the industry view as excessive. Although Trump cannot directly remove the SEC chair, his intention to appoint a new leader suggests a shift toward a more crypto-friendly regulatory environment.

Moreover, Trump has voiced strong opposition to the creation of a central bank digital currency (CBDC) by the federal government. He argues that such a move could lead to a perilous scenario where money could vanish from individuals’ bank accounts without warning.

Ensuring a Supportive Environment for Digital Assets

In a bid to give the crypto industry a stronger governmental voice, Trump has proposed establishing a “Bitcoin and Crypto Presidential Advisory Council.” This council would be comprised of experts who genuinely understand and support the industry, as opposed to those perceived as antagonistic. Trump’s vision extends to ensuring that all Bitcoin is mined within the United States. After discussions with leading Bitcoin mining executives, he emphasized that US energy independence should encompass cryptocurrency mining, critiquing current policies that he believes prioritize foreign interests over domestic innovation.

From a broader economic perspective, Trump plans to implement policies aimed at reducing interest rates should he be elected. Historically, lower interest rates stimulate borrowing and investment, often leading to rises in cryptocurrency prices. With Bitcoin at the heart of his new economic strategy, Trump has vowed to utilize the largest cryptocurrency on the market to significantly reduce the national debt, which currently stands at a staggering $35 trillion.

Additionally, Trump has committed to proposing a comprehensive digital asset policy and intends to end hostilities against the sector upon taking office. His administration is also expected to overturn the conviction of Silk Road online marketplace founder Ross Ulbricht.

The Current State of Bitcoin

At present, Bitcoin’s price trajectory remains upward, despite a slight decline from its record high. The largest cryptocurrency on the market is currently trading at $74,416 per coin. This ongoing trend continues to captivate investors and analysts, as the future of digital currency under Trump’s presidency unfolds.

By strategically aligning his administration’s policies with the interests of the crypto community, Trump has set the stage for a transformative era in the United States’ approach to digital assets. As his presidency progresses, stakeholders across the financial spectrum eagerly anticipate the next developments in this dynamic and rapidly evolving market.
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Emma Horvath

After graduating Communication and Media Studies MA in Eötvös Loránd University, Emma started to realize that her childhood dream as a creative news reporter committed to find dynamic journalism stories. I'm a passionate journalist with a keen interest in the fast-evolving world of cryptocurrencies. I've been reporting on the latest developments in the crypto industry for several years now, covering breaking news and providing insights on how the market is trending. I'm adept at analyzing daily market movements, researching ICOs, and keeping track of the latest innovations in blockchain technology. My expertise in the space makes her a trusted voice in the crypto community. Whether it's the latest Bitcoin price movements or the launch of a new DeFi platform, I am always at the forefront, bringing her readers the most up-to-date and informative news.

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