What Makes Trump Fall in Love with Cryptocurrency?Donald Trump attends Bitcoin conference in Nashville

Former US President Donald Trump personally delivered a speech at a Bitcoin conference in Nashville, despite being injured in an assassination attempt. This moment is significant for cryptocurrency. Now, cryptocurrency has officially entered the campaign stage, surpassing mere casual mentions aimed at appeasing certain voter groups and fundraising political action committees. The legitimacy that the industry has long yearned for is now personified at a conference about the orange coin.

On Saturday afternoon local time, Trump stated at the Bitcoin conference in Nashville: “This afternoon, I will outline my plan to ensure that America becomes the cryptocurrency capital of the Earth and the Bitcoin superpower of the world. We will achieve this goal.”

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What Makes Trump Fall in Love with Cryptocurrency?

I believe this is a question everyone has.

We all know that Trump did not fall in love with cryptocurrency for the sake of elections. As early as the end of 2022, Trump launched his first NFT, named Superman, which was reported by SuperEx. Click here to view the report.

The entry of cryptocurrency into the significant issues of the US elections was also driven by Trump’s “trend.” This Bitcoin conference, which should have been a cryptocurrency meeting, seemed to turn into Trump’s personal show.

Trump stated that he would fire SEC Chairman Gary Gensler, whose term ends in 2026. If Trump wins the presidential election, he will have a major impact on the top regulatory body of this emerging industry.

Trump said, “We will have regulations, but from now on, these regulations will be formulated by people who love your industry, not those who hate it.”

He also promised to form a presidential advisory committee for the crypto industry, create a stablecoin framework, and called for reduced enforcement.

The applause at the conference site was not only for Trump and his speech but also for all the efforts of cryptocurrency practitioners over the years.

Trump’s remarks are the latest example of how the former president has embraced this technology and attempted to position himself as an advocate for crypto interests. During his presidency, Trump expressed skepticism about cryptocurrency, stating he was “not a fan,” that their values were “based on thin air,” and that he considered the asset class to be a crime-ridden scam.

This speech also marked the increasing merger of a political machine once an outsider with an outsider financial movement and indicated that the crypto industry is gradually entering the mainstream.

Returning to the Theme: Why Is Trump Interested in Cryptocurrency and NFTs?

Trump’s interest in cryptocurrency and NFTs may involve several factors. Although Trump’s direct involvement in the cryptocurrency field is relatively limited, his attention to this emerging technology can be understood from the following aspects:

Power and Influence: As a former president, Trump is well aware of how emerging trends in the political and economic fields can influence public opinion and markets. If he shows interest in cryptocurrency, it might be related to his attempt to maintain or expand his influence. The rapid development and appeal of cryptocurrency and blockchain technology have attracted many political and business leaders to this field to ensure they stay ahead in future economic and technological trends.

Economic Opportunities: Trump’s business background makes him very sensitive to emerging economic opportunities. The cryptocurrency and NFT markets offer new investment and business opportunities. If Trump gets involved, he might be eyeing the potential profits and business value of this emerging market.

NFT and Brand Promotion: Trump launched his NFT series in 2022, which is essentially part of his brand promotion. NFTs are not only an application of cryptocurrency but also an emerging branding and commercial tool. By issuing NFTs, Trump can further shape his public image and gain benefits from it.

Overall, Trump’s interest in cryptocurrency and NFTs may include concerns about power and influence, as well as grasping economic opportunities. His involvement may not only reflect curiosity about new technology but also align with his strategic considerations for personal branding and business opportunities.

Appendix: Summary of Trump’s Speech at the Bitcoin Conference

1. Reason for Attendance: To ensure that the US maintains a leading position in digital cryptocurrency.

2. Bitcoin as a Miracle: Bitcoin is a “miracle of cooperation and human achievement.” If we don’t embrace cryptocurrency and Bitcoin technology, other countries will dominate.

3. Development in Power Sector: To facilitate the digital mining sector, efforts will be increased to develop fuel power generation, nuclear power, and other environmentally friendly power generation methods.

4. Encouragement of Crypto Mining in the US: Hopes for cryptocurrency to be mined in the US.

5. Firing of SEC Chairman Gensler: Will fire SEC Chairman Gensler on the first day of taking office.

6. Formation of Bitcoin Presidential Committee: Will appoint a Bitcoin presidential committee if elected. All Bitcoin jobs in the US will be retained.

7. Opposition to CBDC: Will order the Treasury to stop creating a central bank digital currency (CBDC) during his presidency.

8. Bitcoin Not a Threat to the Dollar: Bitcoin will not threaten the dollar; the current US government’s actions are threatening the dollar.

9. Bitcoin Savings: Billions of people will put their savings into Bitcoin; never sell your Bitcoin.

10. Government Retention of Bitcoin: The government will 100% retain its Bitcoin holdings if elected.

11. Bitcoin Market Cap Surpassing Gold: Bitcoin’s market cap will surpass gold in the future. Since its inception, Bitcoin’s market cap has been growing and is now the ninth largest asset in the world, soon surpassing silver and eventually gold.