Trump won the U.S. elections today. We will explore other past statements from the newly elected president. A few months ago, on July 27, the mood was electric at Nashville’s Music City Center. Crypto fans packed the hall to hear Donald Trump speak. His crypto agenda matters more than ever after winning the 2024 election. Nobody expected cryptocurrency to be such a big deal in his campaign. The crowd went wild when Trump said America would become “the crypto capital of the planet and the Bitcoin superpower of the world.” Bitcoin’s price shot up to $75,000 right after.
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Trump’s Crypto Vision: Market Reactions and Future Prospects
A Complete Policy Reversal
It’s funny how things change. Back in 2019, Trump really didn’t like crypto. He wrote: “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.” But wow, what a difference five years makes. In Nashville, surrounded by folks wearing Bitcoin t-shirts, he said: “If crypto is going to define the future, I want it to be mined, minted and made in the USA.”
Detailed Policy Framework
The story actually started back in June, at Mar-a-Lago. Trump spent an hour and a half in a small tea room with about a dozen Bitcoin mining executives from big companies like Riot Platforms, Marathon Digital, and CleanSpark. This meeting seemed to change everything.
The crowd loved every minute of Trump’s Nashville speech. They got really excited when he talked about changing who’s in charge. “On Day One, I will fire Gary Gensler and appoint a new SEC chairman,” he promised. Some people even wore shirts making fun of Gensler.
Trump also has big plans for the government’s Bitcoin. He said: “It will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin the U.S. government currently holds or acquires into the future.” Traders in Chicago started betting on higher prices right away.
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The Advisory Council Plan
After his main speech, Trump talked more about his plans with industry leaders. “We will have regulations, but from now on the rules will be written by people who love your industry, not hate your industry,” he told them. His team would have 100 days to write new rules. Some experts think that’s pretty quick.
Impact on American Crypto Mining
Just four hours after that first mining meeting at Mar-a-Lago, Trump posted online: “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left. We want all the remaining Bitcoin to be MADE IN THE USA!!! It will help us be ENERGY DOMINANT!!!”
His mining ideas got energy companies excited. He kept it simple: “No tax on crypto but only on tokens made in the USA. We want tokens made here at home; we don’t want the Chinese tokens.” Oil and gas companies in Houston started doing the math on using extra natural gas for mining.
Market Response and Expert Analysis
The whole crypto world seemed to celebrate. Bitcoin prices went through the roof, and crypto-related stocks like Coinbase and MicroStrategy jumped in after-hours trading. At Trump’s Mar-a-Lago victory party, crypto supporters like Elon Musk and Cantor Fitzgerald CEO Howard Lutnick showed up to celebrate.
CBDC Opposition and Privacy Protection
The biggest cheers came when Trump talked about government digital money: “There will never be a CBDC while I’m president of the United States.” Crypto fans who worry about privacy really liked that part.
Implementation Roadmap and Challenges
After the speech, industry experts talked about the hard parts ahead. One big problem: presidents can’t actually fire the SEC chair directly. Even if Trump puts someone new in charge, Gensler would still stay on as a commissioner.
Other challenges include:
- Fixing power grids for mining
- Dealing with other countries
- Getting government departments to work together
- Keeping everything secure
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Future Outlook
Later that night, as people celebrated on Nashville’s main street, Trump left them with this thought: “You are the modern-day Edisons and Wright brothers and Carnegies and Henry Fords.” Everyone was excited, but old-timers in crypto have heard big promises before. We’ll have to wait and see if these plans actually happen.