Former US President Trump made a series of eye-catching commitments to the cryptocurrency circle at the just-concluded Bitcoin 2024 conference early this morning, demonstrating his determination to win support in this field.

Specifically, Trump promised to: include it as a strategic reserve asset for the United States, fire the current SEC chairman, establish the Bitcoin Presidential Committee, encourage power plants to strengthen electrical utilities for Bitcoin mining, and explore the synergies between the cryptocurrency and automotive industries.$Bitcoin (BTC.CC)$designated as assets for the United States' global strategy, fire the current SEC chairman, establish the Bitcoin Presidential Committee, encourage power plants to strengthen electrical utilities for Bitcoin mining, and explore the synergies between the cryptocurrency and automotive industries.

It is worth noting that this represents a major turnaround in Trump's previous stance on digital assets, highlighting not only the growing importance of cryptocurrencies in the US political landscape, but also a new approach to economic policy in the Trump camp.

These radical commitments have brought volatility to the cryptocurrency circle, and as some US officials propose more aggressive cryptocurrency support policies, the Democratic Party seems to be "turning around", and the cryptocurrency circle seems dissatisfied with Trump's promises.

Bitcoin has shown a V-shaped trend, starting with a short-term decline below the $0.067 million mark, and then experiencing a significant increase near the end, once breaking through $0.069 million.

Various bullish commitments in the cryptocurrency circle

Firstly, Trump promised to establish a "strategic national Bitcoin reserve" if elected. He said that the federal government will retain all of the Bitcoin it currently holds, about 210,000 coins, which accounts for 1% of the total Bitcoin supply. This move will make the United States the world's first country to officially include Bitcoin in its national strategic reserves, giving Bitcoin a strategic position similar to that of gold.

Secondly, Trump announced that he would dismiss current US Securities and Exchange Commission (SEC) Chairman Gary Gensler on his first day in office. Gensler has long been seen as hostile to the cryptocurrency industry, and his regulatory approach has been widely criticized within the crypto industry. Trump promised to change this situation, saying that the current regulations are "too vague, harsh, and rigid" and are hindering industry innovation.

At the same time, Trump announced that if elected, he would establish a "Bitcoin and Cryptocurrency Presidential Advisory Committee" to formulate US cryptocurrency policy, retain all of America's Bitcoin jobs, and that there would never be a central bank digital currency (CBDC) during his presidency.

In addition, Trump also promised to encourage power plants and the electric car industry to innovate with the crypto industry. He hopes that cryptocurrencies will be mined in the US, and in order to facilitate mining in the crypto field, will intensify efforts in the power supply field, develop fuel power, nuclear power, and other environmentally-friendly power generation methods, and explore the synergies between the crypto industry and the electric car industry.

This commitment is in line with the growing interest in sustainable crypto mining and the potential for blockchain technology to fundamentally change the energy industry.

The cryptocurrency policy is becoming a hot topic in the presidential debate as the 2024 US elections approach.

Trump has made cryptocurrency policy an important part of his campaign agenda, and according to members of Trump's campaign team, the team has received over $4 million in various cryptocurrencies since May. According to data from OpenSecrets, donors from the crypto industry have contributed more money to the 2024 presidential campaign than all previous cycles combined.

Compared to Trump's promises, some US officials have proposed more aggressive policies to support cryptocurrencies, and the Democratic Party seems to be turning around.

Shortly after Trump's speech, Cynthia Lummis, a Republican senator from Wyoming who attended the Bitcoin 2024 conference in Nashville, announced plans to draft a bill requiring the government to establish a national reserve of up to 1 million Bitcoins, which will be held for 20 years. On Friday, US independent presidential candidate Robert Kennedy promised to launch a Bitcoin reserve program of 4 million coins if elected president.

Shortly after Trump's speech, Wyoming Republican Senator Cynthia Lummis, who attended the Bitcoin 2024 conference in Nashville, announced plans to draft a bill requiring the government to establish a national reserve of up to one million bitcoins within five years, to be held for 20 years. On Friday, local time, independent presidential candidate Robert Kennedy promised in a speech to launch a 4 million bitcoin reserve plan if elected president.

And despite the refusal of the US Vice President and Democratic presidential candidate Harris to attend the 2024 Bitcoin conference, it is expected that Harris will clarify her position on cryptos in the coming weeks. According to media reports, more than 20 Democratic lawmakers, including Harris, signed a statement early Saturday calling on the Democratic National Committee to abandon its policy against Bitcoin advocated by Senator Elizabeth Warren.

Editor/ping