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Donald Trump Backs ‘Strategic Bitcoin Stockpile’ in Speech to Crypto Faithful
Appearing onstage at the Bitcoin 2024 conference, Trump also promised to “fire” SEC chair Gary Gensler, set up a crypto advisory council, and make the United States the “crypto capital of the world.”
This move confirmed rumors spread by bitcoin enthusiasts who were hopeful that endorsement of a reserve from Trump could bolster the price of the cryptocurrency. Trump also announced plans to appoint a bitcoin and crypto advisory council, whose task will be to “design transparent regulatory guidance to the benefit of your industry,” in the first 100 days of his next presidency. On July 22, senator Cynthia Lummis of Wyoming posted “Big things…in store this week” on X, two days before Fox Business reported that she would “announce legislation for a strategic bitcoin reserve” at the conference.
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