Former President Donald Trump has increased his support of Bitcoin and the cryptocurrency industry as the November election draws near. He is positioning digital assets to be a key theme in his presidential campaign.
America is the Bitcoin Capital
Trump gave a speech at the Economic Club of New York. articulated He has a vision to embrace industries in the future. The United States will be positioned as the hub of crypto and Bitcoin.
“Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and Bitcoin,” Trump has declared his intention to promote innovation and growth of digital assets.
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Addressing Concerns Around regulationTrump has pledged to launch a campaign designed to free the economy from regulatory burdens, which is a source of disagreement within the sector. He stressed a bold plan to remove outdated regulations and promised a 10-fold reduction of each new regulation under his administration.
Trump has also hinted at his next project in recent remarks. “World Liberty Financial,” Designed to establish the US as a leading global player in crypto.
The latest installment of his commentsThe former President expressed his commitment to fight what he perceived as attempts to suppress the industry. “They want to choke you, and we are not going to let that happen.”
Trump didn’t specify the person he believed was trying to “strangle” Many in the crypto industry are disappointed with Gary Gensler’s enforcement strategies under the SEC chairmanship.
Trump is a former member of the Democratic Party. indicated Many in the cryptocurrency community believe that this move is crucial to fostering an environment that fosters a supportive regulatory climate.
Trump Positions Himself As ‘Crypto President’
Trump’s advocacy of cryptocurrencies, and the wider industry in general, could result in significant changes to US policy. Trump has also claimed to be the world’s first cryptocurrency entrepreneur. “crypto president,” Vowing to create a BTC reserve To offset the current national debt of $35 trillion.
Analysts say that this could be a positive step for the industry. market confidence The price of Bitcoin and the whole digital asset ecosystem could rise in the second half of the year.
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NewsBTC reportedMarket experts believe that Trump’s support of digital assets, and the proposed reforms to his policies, could inspire confidence, leading to a further increase in price and an improved regulatory environment for the growing crypto industry.
The narrative around cryptocurrencies, and what a Trump Presidency could mean for the industry is still firmly in the spotlight as the race to the polls draws closer.
The largest crypto on the market, at the time this article was written, had fallen 3% since Wednesday, giving it a value of $56,000.
Chart by TradingView.com. Image from DALL.E.
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Source: www.newsbtc.com