Donald Trump's 3 Positive Plans for Crypto Before He Was Elected President

Before Donald Trump was elected President of the United States in 2024, he had built an image of himself as an active supporter of the cryptocurrency (Crypto) market. Let's review with BeInCrypto the plans he intends to implement to develop the digital asset sector in the United States and see how many of them he will realize. Also Read: Official: Donald Trump Elected as the 47th President of the United States Dismiss Gary Gensler - the "Crypto Slayer" Gary Gensler, who was expected to bring a fresh perspective to the cryptocurrency sector when he officially took office as SEC Chairman under former President Joe Biden, has become the "Crypto Slayer" during his tenure. Many lawsuits have been filed under his leadership, allegedly to "protect investors," which has somewhat constrained the overall development of the digital asset sector in the United States. Previously, in July 2024, Donald Trump spoke at the Bitcoin 2024 conference in Nashville, outlining his plans for the cryptocurrency industry. In his speech, Trump surprised the audience by promising to replace SEC Chairman Gary Gensler if he won the election. The crowd responded with applause in support. Prevent the U.S. Government from Selling Bitcoin, Keep it as a Reserve Asset Before Donald Trump was elected President of the United States, he also announced his intention to prevent the U.S. Government from selling the Bitcoin they currently hold. After numerous seizures and confiscations of Bitcoin from illegal activities, at the time of writing this article, based on data from Arkham, the U.S. Government holds approximately 213,000 Bitcoin worth nearly $14.5 billion. Trump also stated that his administration will hold 100% of the Bitcoin currently or future owned by the U.S. Government. This will form the core of the strategic national Bitcoin reserve. With its unique characteristics, Bitcoin has the potential to withstand the influence of America's geopolitical rivals and ensure a stronger financial economy. Therefore, Trump's vision of integrating Bitcoin into the national strategy could help the U.S. strengthen its economic position and protect its place in the global financial system. Use Bitcoin to Pay Off the U.S. National Debt and Dominate the Energy Sector Before Donald Trump became President in the 2024 U.S. election, a report in May stated that he was also exploring the use of Bitcoin to address the U.S.'s $35 trillion national debt problem. From this perspective, Trump has ambitions to help the U.S. own all the remaining Bitcoin on the market. He believes this strategy will position the country to "dominate the energy" sector. He even emphasized that the Biden administration's aversion to Bitcoin only benefits China, Russia, and extreme left-wing communists. In an interview with Bloomberg, Trump shared his views on the importance of mining all the remaining Bitcoin in the country. Trump sees Bitcoin mining as an emerging industry that can significantly drive the U.S. economy and strengthen national security. Additionally, he stressed that Bitcoin mining is an important defensive mechanism against the deployment of central bank digital currencies (CBDCs). Also Read: Trump's Speech at the Bitcoin 2024 Conference: Gensler Out, Bitcoin Becomes a Reserve Join the BeInCrypto Community on Telegram to stay updated on the latest analysis and news about the financial markets in general and cryptocurrencies in particular.