Mr. Donald Trump announced that if elected President of the United States, there will be necessary changes to help the United States maintain its leading position in the cryptocurrency industry.
Donald Trump continues to attract voters with statements supporting crypto. Photo: AP
Before giving an important speech at the National Convention of the Liberal Party, one of the important stops on the journey to return to the US Presidential seat, the leading candidate of the Republican Party is Mr. Donald Trump made a post on the Truth social network he founded, with many statements supporting the cryptocurrency industry.
Specifically, Mr. Trump wrote:
“I have a very positive and open attitude towards cryptocurrency companies, as well as everything related to this emerging field. Our nation must continue to maintain its leadership position. There is no such thing as accepting second place. On the contrary, JOE Biden, the worst president in American history, wants this sector to die in the slowest and most painful way. That will never happen if I come to power!”
This continues to be a positive change in Mr. Trump's attitude towards the cryptocurrency industry. While serving as US President from 2017 to 2021, Mr. Trump repeatedly criticized Bitcoin and promoted the US dollar . However, since experimenting with issuing Non-Fungible Token on Ethereum and then on Bitcoin , the billionaire has had a completely different view of this emerging technology.
Most recently, when interacting with Non-Fungible Token holders in early May, Mr. Trump said he was willing to accept donations from supporters in crypto form, as well as affirmed that he would do everything possible to retain companies. in the cryptocurrency industry to stay in the United States once elected President. He later kept his promise when he announced his campaign would accept donations in the form of Bitcoin, Ethereum, Solana, Dogecoin and Shiba Inu .
According to statistics from Arkham, Mr. Trump is also the celebrity who owns the most cryptocurrency, with a wallet containing up to 6.4 million USD in crypto .
The topic of cryptocurrency once again appeared in Mr. Trump's speech at the Libertarian Party National Convention, when the Presidential candidate announced that if elected again, one of the first executive orders of the he will release Ross Ulbricht, founder of the black market Silk Road .
Silk Road is an anonymous goods trading platform using Bitcoin as currency, operating from 2011 to 2013 before being raided by US authorities because it was being abused to buy and sell banned substances. Ross Ulbricht in 2015 was sentenced to two life sentences and 40 years in prison, meaning a life sentence with no possibility of parole. Many members of the cryptocurrency community still believe that Ulbricht's sentence was too harsh and asked the US government to be lenient.
Mr. Trump said: “If you vote for me, on my first day in office, I will sign an acquittal for Ross Ulbricht. He has been in prison for 11 years, now it's time to return home."
Moreover, Mr. Trump continues to attack his opponent JOE Biden and officials in the US administration for their anti-crypto stance over the years, as well as reaffirming his commitment to not allow the Fed to build a CBDC .
“We will end JOE Biden's crypto crackdown crusade.I will ensure the future of crypto and the future of Bitcoin will be created in America, not pushed overseas. I will support people's right to self-storage their assets. To all 50 million people using crypto, I say this: I will keep Elizabeth Warren and her coterie away from your Bitcoin, and I will never allow the US central bank to operating its own digital currency.”
Thus, it can be seen that Donald Trump has turned cryptocurrency into one of the main topics to attract supporters for the upcoming US Presidential election in November. This is a move that is considered quite wise by the billionaire, as the Biden administration's consecutive moves to suppress crypto in the past 2 years have had a significant impact on both organizations and investors in the industry. this market.
Some analysts believe that the effectiveness of Mr. Trump's strategy to embrace crypto is so effective that it forced the White House to quickly change its stance on crypto, leading to the US Securities and Exchange Commission (SEC) stepping down. No Ethereum spot ETF was forced to completely change its attitude and approve this group of products in just 5 days .
The price of memecoin MAGA (TRUMP) on the morning of May 26 at one point increased by 25% thanks to the positive statements that Mr. Trump continued to make for the cryptocurrency industry.
MAGA (TRUMP) price fluctuation in the last 7 days, screenshot of CoinMarketCap at 11:45 AM on May 26, 2024
On the Polymarket crypto prediction market, Mr. Trump has the highest confidence from the cryptocurrency community to win the election with a support rate of 56%, far surpassing Mr. Biden's 38%.
Odds of predicting the next US President, Polymarket screenshot on the morning of May 26, 2024
However, reports from major US newspapers about Mr. Trump's speech at the Liberal Party's National Convention said that the former President's campaign speech was met with boos and protests. from listeners and Liberal Party voters who still disagree with his response to the COVD epidemic period in 2020-2021.
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