Explaining his political reversal on bitcoin,
Republican presidential nominee Donald Trump went all in Saturday on
making the U.S. the "crypto capital" and "bitcoin superpower of the
world."
"The reason I have come to address the bitcoin community today can be
summed up in two very simple words: America first," Trump told the
bitcoin conference in Nashville, Tennessee, in a speech that aired live
and in its entirety on Newsmax and the free Newsmax2 streaming platform.
"Because if we don't do it, China is going to be doing it. Others are
going to be doing it. Let's do it and do it right. My vision is for an
America that dominates the future."
Trump said the Biden administration is trying to overregulate
cryptocurrency and that the U.S. must embrace innovation, not stifle it.
"If we don't embrace crypto and bitcoin technology, China will; other
countries will," Trump said. "They'll dominate, and we cannot let China
dominate. They are making too much progress as it is."
China should make progress, too, but America should lead the way, Trump continued.
"I want the United States to be first in technology, first in
science, first in manufacturing, first in artificial intelligence, and
first in space," he said.
"This afternoon, I'm laying out my plan to ensure that the United
States will be the crypto capital of the planet, and the bitcoin
superpower of the world, and we'll get it done.
"If crypto is going to define the future, I want to be mined, minted,
and made in the USA. It's going to be. It's not going to be made
anywhere else.
"And if bitcoin is going to the moon — as we say, 'It's going to the
moon' — I want America to be the nation that leads the way. And that's
what's going to happen."
Trump had once been a critic of cryptocurrency, but its continued
prominence has the GOP candidate now going all in on making it great in
America.
"No, you're going to be very happy with me. You're going to be so happy. You're going to say, 'He's the greatest guy.'"
Trump used the bitcoin conference to call out Vice President Kamala
Harris and President Joe Biden for being "hell-bent on crushing crypto,"
because it stands for "freedom, sovereignty, and independence."
"It should be no surprise that these same totalitarians are hell-bent
on crushing crypto and obliterating it," Trump warned. "And that's what
they want to do.
"You know what they're doing, obliterating bitcoin. The reason could
not be more clear, because bitcoin stands for freedom, sovereignty, and
independence from government coercion and control.
"The Biden-Harris administration's repression of crypto and bitcoin
is wrong, and it's very bad for our country. It's really quite
un-American."
Trump said the U.S. government "has almost 210,000 bitcoin, or 1% of
the total supply that will ever exist," but it is breaking the rule
about selling — something he vows to end if elected.
"But for too long, our government has violated the cardinal rule that
every bitcoiner knows by heart: Never sell your bitcoin," Trump said.
"Right? That's right, isn't it? How did I figure that one? Never sell
your bitcoin.
"And so as the final part of my plan today, I am announcing that if I
am elected, it will be the policy of my administration, the United
States of America, to keep 100% of all the bitcoin."
Trump wrapped up his speech with a vow to be on the side of the innovators.
"Ultimately, my promise to each and every one of you is this: I will
be the pro-innovation and pro-bitcoin president that America needs and
our citizens deserve," Trump said.
"This will be one industry, but this will be a thriving industry, a
great industry. And I'm going to be doing the same thing for every other
industry. Also, our nation has never thrived by trying to censor new
ideas and shut down the dreams of our people.
"America always plants our flag on the next frontier and pushes boldly ahead. We have to do that."
The Biden-Harris administration's "war on crypto" is stifling progress, according to Trump.
"Especially the last 3½ years, it's gone the exact opposite," Trump
said. "Those of you in this room inherit the legacy of generations of
American pioneers and patriots, risk takers, and renegades who settled
this continent, built the modern world, and lived on the bleeding edge.
"You live on a bleeding edge. You do know that, bitcoiners, don't
you? You are the modern-day Edisons and Wright brothers and Carnegies
and Henry Fords. And what you do in your lifetime stands a chance to
outlive us all and inspire humanity for generations to come."
Trump concluded by calling this "a very important day in the history of your industry."
"Together, you are building America's future with your own smarts,
your own grit, and your own skin in the game," He said. "You have own
skin in the game, you have a lot of skin in the game, and that's what
you're doing.
"It takes courage to do it. Most people don't have that courage. My
job will be to set you free and to let you do what Americans do best and
what you're going to do better than anybody: Win, win, win."
Eric Mack ✉
Eric Mack has been a writer and
editor at Newsmax since 2016. He is a 1998 Syracuse University
journalism graduate and a New York Press Association award-winning
writer.