Donald Trump has vowed to support the crypto industry by making America the World’s Bitcoin Capital.
Crypto-friendly American presidential candidate Donald Trump has expressed his confidence in Bitcoin and the crypto industry in notable ways. Most recently, he has revealed plans to “make America the world’s capital for Bitcoin and crypto” if he wins the November 5 election. Trump has earned the support of the crypto community in various ways, including Bitcoin donations from many famous American crypto enthusiasts.
Trump to Endorse Crypto for the U.S.
In a wide-ranging speech on Thursday, Trump revealed that if he is reelected president for the second time, he will make many adjustments to fit the masses’ demands, including eliminating ten old regulations for every new regulation.
Trump’s vision for the crypto industry extends beyond mere support. He envisions America as a thriving center for crypto adoption, leadership, and innovation. Trump’s plans could transform the United States into a global crypto powerhouse by fostering investments, businesses, and activities related to Bitcoin and other cryptocurrencies.
“Instead of attacking industries of the future, we will embrace them, Including making America the world’s capital for crypto and bitcoin,” he said.
Although various famous crypto firms are firmly grounded in America, the situation has not been very favorable for some due to strict regulations in the country. This has led to many charges and sanctions from regulators like the Securities and Exchange Commission (SEC). Therefore, the American crypto community looks forward to having the crypto-enthusiastic candidate as the new U.S. president.
Trump’s Crypto Adoption and Support
Trump has publicly shown that his support for the crypto industry is not just a campaign strategy but a core part of his vision for America’s future. His attendance at the Bitcoin 2024 conference and his plans to create a ‘strategic Bitcoin reserve‘ for the U.S. demonstrate his commitment to the industry. His decision to remove the crypto-skeptic SEC chairman Gary Gensler further solidifies his pro-crypto stance.
Many famous crypto-focused figures have supported Trump’s campaign in significant ways. Within Q3 2024, he received over $5 million in cryptocurrencies like Bitcoin, Ethereum, XRP, and USDC donations from various people supporting his election. This includes the 12.8 BTC voluntary contribution from famous American entrepreneur Gary Cardone.
