Review of Trumps Bitcoin Promise: Fire SEC Chairman, US Government Keeps 100% of Bitcoin Holdings

On November 6, 2024, the US election was basically settled. With the key swing state of Pennsylvania turning red, Bitcoin hit a record high of $75,000, and Trump was basically certain to take the position of US president again, just like 8 years ago.

In order to win this election, Trump frantically showed goodwill to people in the crypto industry during the campaign and became a Bitcoin activist. At the Bitcoin 2024 conference held in Nashville in July this year, Trump appeared and delivered a nearly one-hour speech. Although it was delayed by one hour from the original time, tens of thousands of audiences on the scene were still in high spirits during Trumps very personal speech.

This is a promise Trump made to Bitcoin, and now it is time for him to fulfill his promise. Today, when Bitcoin is at a record high, lets review this speech and see what promises Trump made to Bitcoin?

TL;DR

路 Bitcoins market value has been increasing since its birth, and it will soon surpass silver and gold in the future

Plans are being developed to ensure that the United States will become the world鈥檚 crypto hub and Bitcoin super power

The president-elect will fire current SEC Chairman Gray Gensler on his first day in office, will keep every Bitcoin-related job in the United States, and will appoint a Bitcoin/Cryptocurrency Presidential Advisory Committee upon taking office

Bitcoin is not a threat to the dollar, and those who think it is a threat to the dollar are completely mistaken. The future danger does not come from cryptocurrencies, but from Washington, D.C.

After his election, the United States will not sell (100% retention) any Bitcoin as a strategic Bitcoin reserve

We have a lot of other people who are supporters, so we need to talk about crypto, we need to talk about Bitcoin, we need to talk about all of these great companies. Our country is blessed with all of the talented people who are here with extraordinary talents and abilities, and its really great, even if not all of them, but we still have a lot of talent, and thats the spirit that built America, thats the spirit that helps us make America great again, and thats what were doing.

The future value of Bitcoin

I stand before you today filled with so much respect and admiration for what the Bitcoin community has accomplished. I say to my sons, its incredible because they know so much more about Bitcoin than someone a little older would. But I say thats what the steel industry was a hundred years ago, and I think Bitcoin is still in its infancy.

We are seeing it happen, in just 15 years Bitcoin has gone from being just an idea posted anonymously on an internet message board to being the ninth most valuable asset in the world, can you believe that, this is a big deal. Bitcoin is already bigger than ExxonMobil, soon it will be bigger than the entire silver market cap, one day it may be bigger than gold, but based on what is going on right now, that is very unlikely to happen. There has never been anything like this, most people have no idea what it is, and when they do, Bitcoin is going to be amazing.

Bitcoin is not only a miracle of technology, it is a miracle of collaboration and human achievement that has formed so many relationships. The reason I came to address the Bitcoin community today can be summed up in two very simple words: America First, because if we dont do it, other countries will. Lets do it and do it well, and my vision is an America that dominates the future, where we have the best economy, the highest standard of living, the safest, and the most beautiful cities.

When I say safest, our cities are going to hell right now, but we will fix our cities, we will work with the Democrats who destroyed our cities. We will take our cities back, we will take our country back. We were the freest, most ambitious, most vibrant country on Earth, and we will get it back. Because we are not there yet, we are a declining country, but thats okay, we will get it back.

Now this is embarrassing, and if they respected our country, this would never have happened. If we dont embrace cryptocurrency and Bitcoin technology, other countries will do the same, and they will dominate cryptocurrency. We have to be the most successful, and thats whats going to happen. I want America to be number one in technology, number one in science, number one in manufacturing, number one in artificial intelligence, and number one in space.

Enhance power supply

My uncle, Dr. John Trump, was a professor at MIT, and he would fit right in. He was the longest-tenured professor in the history of MIT, and he graduated with great honors, I think he had three different degrees, but they invited him to stay on as a professor at MIT, and he stayed there for 41 years, and the dean of MIT came to see me when I was in the White House, and they sent me a book about my uncle, who was a legend in academia and a legend at MIT, so I know a lot about what youre doing.

I have a lot of respect for highly intelligent people, and you are highly intelligent, and America needs to be ahead of our competitors in everything, and our industry will not surrender to anyone. Some of you are working on artificial intelligence, but you also need something called electricity, and you need a lot of electricity. Although we have ESG environmental impact reports to deal with, we are going to do something that no one thinks is possible. You need a lot of electricity, you need twice the electricity that the United States has now to dominate (in the field of artificial intelligence), and we will accomplish this task.

Were going to build power plants on site, were going to generate electricity from fossil fuels, were going to use nuclear power, were going to do it in an environmentally friendly way, but were going to generate enough electricity that youre going to say, Mr. President, we dont need any more electricity, we cant handle it, lets stop generating electricity.

In the Midwest, (Tesla) just opened two electric car chargers, and you know I love Elon, hes awesome, he supports me, but not everyone has to have an electric car, I told him that, so were going to remove the mandate. If you dont mind, some people want gas-powered cars, some people want hybrids, some people like electric cars, and I think theyre all great.

I think he (Musk) understands this or he wouldnt support me, but theyre building these chargers in the Midwest, its costing $9 billion to build eight chargers, its going to take about $12 trillion to build a national charging network at this rate, its not going to work, our country will have to file for Chapter 11 bankruptcy protection. We have to use our heads, we have to get back to common sense, we have to produce a lot of electricity for artificial intelligence and everything else youre doing, and well produce it fast, otherwise we cant compete with other countries.

Easing crypto regulation

This afternoon I will unveil my plan to ensure that America becomes the global cryptocurrency capital and the Bitcoin superpower of the world, and we will make it happen. If cryptocurrency is going to define the future, I want it to be mined, minted, and manufactured in America. It will be made in America, and nowhere else. If Bitcoin is going to go to the moon, I want America to be the country leading the way, and that will be the reality.

You will be very pleased with me, which is why I am proud to be the first major party nominee in American history to accept Bitcoin and cryptocurrency donations. The crypto community has done a lot, and I admire them very much. Since our announcement on May 21, $25 million has been raised, a large part of which is Bitcoin, cryptocurrencies and other very good currencies.

Im excited about the future of Bitcoin and cryptocurrencies. Our opponents have walked a hard road. The SEC was very tough on crypto. They blocked the way for crypto, but I made it easier for you to develop. Now the SEC sees that you embrace me, and all of a sudden those who were investigating are giving up. They say they dont want to do it, they love Bitcoin. But let me tell you, if they win the election, these attitudes will disappear again. They will become fierce and shameless and do things you wouldnt believe.

I heard from some of your great geniuses, Vivek told me that there are 175 million people involved in some form in the world of cryptocurrencies and Bitcoin and everything else. 175 million people, so when they heard that number, they said, at least treat them a little bit better before the election. So I took a lot of pressure off a lot of people, a lot of people are happy today, and they werent so happy three months ago.

For three and a half years, the current administration has waged an unprecedented war against cryptocurrencies and Bitcoin. For those of you who work in the industry, they target your banks, they cut off your financial services, has anyone seen this happen? Yes, a lot of hands raised. They block ordinary Americans from transferring money to your exchanges. They smear you and portray you as criminals.

But it also happened to me because I said the election was rigged, he said the election was rigged, he should spend the rest of his life in jail for that statement. Of course, those things they say to us are all okay now. We did well in the election, by the way, you know we recently lost a candidate, Biden, I think we lost this good man.

I made an analogy last night. Think about it, I speak in front of a very influential, very powerful religious group, Christian group, and then today I come to Bitcoin, and now Im going to Minnesota to hold a rally. You think I have a great life dont you? I cover a lot of ground, I go from religion to Bitcoin to rallies, and I dont mix it up like some other people. They come out and say, God bless all those who are involved in the Bitcoin world. But actually we mean it because you need blessings because you have to do something very spectacular.

We had a really good conversation last night with a Christian group. I just won a big case in Florida. It was a documents case, I had the Presidential Records Act on my side, Biden did not. I won this big case, but Biden was incapable of winning it. He is no longer running because he did not do particularly well in the debates. The thing is, Harris is worse than Biden, she is a fierce leftist. She is against cryptocurrency, very much against it.

We are facing terrorists coming to our country, those people are coming from Israel, nobody checks them, nobody knows what is happening, we have no idea what is happening, they are not under the control of the state, only bad things will happen. So we cant just stand by and watch, we have to defeat them.

You cant just be a fighter, think about it, youre in a campaign and youre fighting. You spend a lot of money, a lot of time, a lot of effort, and your supporters lose. And then they say, lets remove him from the fight, well put a new fighter in, and the new fighter is her. He will always be my first choice, but she will be my second choice.

I know you are not that political, but you have to be political because everything you do involves a lot of politics.

If we dont win this, this country as we know it may be over, and this country will be in a bad state. We have to be there, we have to fight, and we have to win. I promise the Bitcoin community that the day I am sworn in, the anti-crypto campaign of Joe Biden and Kamala Harris will end. As soon as I am sworn in, the persecution will stop, and the weaponization of your industry will end.

Elizabeth Warren and her minions, she hates you, she hates you, she hates everything about you. As long as Im in the White House, were going to keep them away from Bitcoin. Theyre going to let it grow, and were going to let it grow. On my first day in office, Im going to fire Gary Gensler and appoint a new SEC Chairman, one who believes that America should build the future, not hinder it.

And Kamala Harris wants him to be Treasury Secretary, which is not good. He was Hillary Clintons finance director and the opponent is the gentleman known as Donald Trump, a persona non grata in this circle. He was actually at my wedding, but when you run for public office, a lot of things change your life.

As President, I will immediately stop this Smother 2.0 campaign. They want to strangle you and make your business impossible, but I will not let that happen. No longer will the government sit back and watch crypto businesses flee to other countries because American laws are too vague, too harsh, and too inflexible. We will keep every cryptocurrency job in America.

Immediately upon taking office, I will appoint a Presidential Advisory Commission on Bitcoin and Cryptocurrency. Anyone willing to serve on this special commission? Their mission will be to design transparent regulatory guidance for the entire industry, and will be completed within 100 days. We will have regulations, but from now on, these rules will be written by people who love your industry, not those who hate your industry, who want to make the rules clear, simple, direct and fair, and who want to see your industry thrive, not die.

Next, I will immediately order the Treasury Department and other federal agencies to cease and desist all necessary steps because you know there is a thing going on in your industry that wants to push for the creation of a Central Bank Digital Currency (CBDC). End it, forget it. There will never be a CBDC as long as I am President of the United States.

I will always defend the right to self-host, you will have a great industry, and we will fuel your industry, not destroy your industry. America will once again be a country that protects property rights, privacy rights, freedom of trade, freedom of association, and freedom of speech. We will transform our — we will go back to the old days when we were a nation that built, not a nation that fed itself from within.

As part of our efforts to provide regulatory clarity, we will create a framework to allow for the safe and responsible expansion of stablecoins. Do you know what a stablecoin is? This will allow us to expand the dominance of the dollar into new areas around the world. America will be around the world, America will be richer, the world will be a better place, and billions of people will be included in the crypto economy and put their savings in Bitcoin, and thats the truth.

Those who say Bitcoin threatens the dollar have it all backwards, Bitcoin is not a threat to the dollar, what is threatening the dollar is the actions of the current Biden administration. The threat to our financial future does not come from cryptocurrencies, it comes from Washington, DC. The threat comes from wasting trillions of dollars, rampant inflation, and open borders while providing welfare and free healthcare to the millions of illegal immigrants pouring into our country; the threat comes from printing hundreds of billions of dollars to fund endless wars overseas while our cities resemble war zones at home.

Two weeks ago in Chicago, 117 people were shot, 17 died, and there was nothing like this in Afghanistan. Look at whats happening in our cities, nobody has seen anything like this in the last three and a half years. Think about it, is this America? I dont think so.

When I was president, we didnt start new wars. Hillary Clinton said she would start wars. But my personality kept us away from wars, and we ended some old wars, like ISIS. They said it would take five years, maybe longer, but we defeated ISIS in four weeks. Because we have a great military, and its not a woke military.

Maybe some of the top guys are awake, but this is not a fully awakened army, I saw that first. When I saw what they did for me, they were incredible, they did things that no one thought was possible. Our real generals and soldiers are not awake. They try to make them awake, but these people will not awaken, I can guarantee that.

With your support, this November, we will restore faith and common sense to our nations capital. Ultimately, this is not about whether you are a conservative or a liberal or a progressive. They like progressive, and it sounds great, but it actually destroys our country, and its a terrible word. But its not about that, its about common sense, and we want to bring common sense back. Everything we talked about today is common sense, and Bitcoin and cryptocurrencies will soar like never before, and even beyond your expectations.

When we stop the war on crypto, we will immediately begin rebuilding our economy because when America thrives, Bitcoin thrives. We have had the greatest economy ever, and we will have it again very soon. Under the Trump Administration, the typical middle-class household has made $6,000 more a year. People don鈥檛 like to mention this because Americans saved more during my four years in office than at any time in decades.

Now you have to hear these numbers, in the four years that I was in office, Bitcoin went up 3,900%, from $898 when I took office to $35,900 when I left office. Thats the biggest gain of almost any industry, think about that number. Compare it to three and a half years after Biden and Harris took office, Bitcoin is up 50% after adjusting for inflation.

50% sounds good but not as good as nearly 4,000%. When people cant afford food or rent, they dont have savings to put in Bitcoin. This administration has created the greatest inflation in the history of our country and this is what happened and our people are being robbed.

Controlling inflation

We are going to replace the Biden-Harris stagnation economy with a brand new Trump economic boom from day one when we return to the White House. You are going to see a huge boom. You know, there are a lot of great analysts, Scott and others, who say the stock market is going up because Trump is going to get elected. If Trump is not elected, the country is going to go into a 1929-style depression.

I wish that wasnt true, but I understand where theyre coming from. They think the stock market is going up because it looks like were going to win the election, but I dont know whats going to happen with the election. You know theyre cheating like crazy, and I dont know whats going to happen, but if we win, this country is going to be a boom town, its going to be more boom than its ever been.

The current administrations economic plan includes trillions in new spending and $5 trillion in tax increases. They want to raise taxes by $5 trillion. They want the Trump tax cuts to expire. They want to put in place a wealth confiscation tax, so when you make all the money and employ all the people, they want to take your money in the form of unprecedented taxes, including a massive capital gains tax of over 50%. My plan is the exact opposite, we will lift up workers, make more people savers, and reward success, not punish success. They want to punish success, punish genius.

I will not let that happen. I will make the Trump tax cuts permanent and provide big tax cuts for families, individuals, and job creating businesses, including no tax on tips. When the tip tax is eliminated, I will cut unnecessary and burdensome regulations. I work every day to make America the best place in the world to start a business, including a cryptocurrency business. It will be the best place, you wont have to go to other countries, and most importantly to my citizens we will quickly end the inflation nightmare this administration has created. It has to end, it is destroying our country.

You know, inflation is a nation destroyer. You can look back to Germany many years ago and see what happened during their great inflation, which destroyed the entire country. Im telling you, Bitcoiners, you recognized the dangers of inflation long before most people. You understood inflation better than anyone else. You knew that, right?

If only they had listened to you, but they didnt. The ridiculous waste of trillions of dollars by our opponents has resulted in 20%, 30%, even 40% of the value of every dollar being quickly wiped out. You understand this, but many others dont. The life savings of millions of Americans have been quickly destroyed.

In simple terms, uncontrolled inflation is a hidden tax on the middle class, I called it the Biden tax, now the Harris tax. But its a disaster, think about it, its a 50% tax on the people. Its a human tragedy, it destroys peoples lives, its a national disgrace, it must never happen again, and when Im president, I guarantee it wont happen again, and well take steps to make sure it doesnt happen.

Were going to increase energy supply to levels that people havent seen in years. We had $1.87 a liter of oil, and now you dont see that. Oil prices didnt get affected for four years under my administration, and when I left office, it was 1.4%. And then it stayed there for almost two years. I remember when Biden promised it was 9%. But that was just a lie.

We gave them a great country, and despite the coronavirus, we did an incredible job. We kept the economy going, we kept the military going, we rebuilt the military, we did a lot of different things, but we didnt print money.

We gave them a great country, and then two years later, the cost of living has gone up, in some cases over 50%. They like to say 22%, but it could be higher, depending on what they include and what they dont include. For example, interest rates go from 2.5% to 10%, and you cant make money.

When I return to the White House, I will stop the insanity and wasteful spending of this administration. I will end the endless wars. They never end. Again, we have no new wars. We have no new wars under your favorite president, Trump. But if you dont elect me, America will be broken.

They think Im going to start a war, and let me tell you one thing, Im going to prevent World War III from happening because we havent been this close to a world war since the end of World War II.

I will seal the borders and stop the millions of people from entering our country illegally. We will quickly defeat inflation and together we will bring back the American Dream for citizens of every race, religion, color, and creed. We will bring back the American Dream to a point where you wont even hear the term American Dream anymore.

We talked about the American Dream, and a lot of you are chasing the American Dream, but if you dont elect me, youre going to be crushed. I hate to tell you this. If you dont elect me, youre going to be crushed. Youre going to say what a big mistake this was.

We chose someone with no talent, who has failed in almost everything she has done, over Trump. Look where we are now, we are moving from our beautiful house to a teeny tiny house.

We are going to end the war on American energy and we are going to very simply start drilling, drilling, drilling. We have to do it, this is a resource we have. We have more liquid gold than any country in the world, more than Saudi Arabia and Russia. We don鈥檛 use it. They use it, we don鈥檛 use it, we go to Venezuela to buy our oil.

But we wont stop there, we will harness all forms of American energy. I have set an ambitious goal that by the end of my term, America will have the lowest energy and electricity costs in the world. With low energy prices, America will become the worlds undisputed Bitcoin banking center, and you wont have to immigrate your family to other countries. When we implement these reforms, Bitcoin and cryptocurrencies will strengthen our economy, strengthen American financial dominance, and continue our overall national strength.

The US government holds Bitcoin

Many Americans dont realize that the U.S. government is one of the largest holders of Bitcoin, did anyone know? The President of the United States has nearly 2.1 million Bitcoins, which is 1% of the circulating supply. But our government is violating a Washington law that every Bitcoin holder knows, dont sell your Bitcoin! As a final plan for today, I am announcing that if I am elected President, this will be the policy I will introduce: The U.S. Government will retain 100% of the Bitcoin currently held as part of the final launch plan of the U.S. Government.

As you know, most of the Bitcoin currently held by the U.S. government was acquired through legal action. They took it from you, they took your lives, they took your families, your homes, your virtual currency. Thats the direction this country is heading, its a fascist regime. So as I take steps to transform that vast wealth into a permanent national asset that benefits all Americans, today I reaffirm my commitment to commuting Ross Albrechts sentence to time served.

This is where our country is right now. Ultimately, my promise to each and every one of you is this: I will be the pro-innovation, pro-Bitcoin president that America needs and that our citizens deserve. It will be an industry, but it will be an industry that generates growth, a great industry. I will do the same for every other industry. Our country has never tried to block new ideas, block the dreams of our people. America has always put our flag on the front lines of the future and marched forward courageously.

We have to do this, we havent done it for a long time, especially in the past three and a half years.

With your history and experience in your field of expertise (cryptocurrency), you and Americas future are built on your own wisdom, your own determination, and your own muscle, which takes courage, but most people dont have that courage. My mission is to free you to do what Americans do best, better than anyone else. We are going to win, win, win, win, win.

Our country cannot fail. We are a failed state now, but we will not fail forever. With your help, we will save our country, we will restore our democracy, and we will make America and Bitcoin better, richer, freer, and greater.

Thank you, bless you all, thank you!

This article is sourced from the internet: Review of Trumps Bitcoin Promise: Fire SEC Chairman, US Government Keeps 100% of Bitcoin Holdings

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