Trump says he'll make a national Bitcoin reserve

Former President Donald Trump, speaking at a Bitcoin conference in Nashville, pledged to create a national Bitcoin reserve if elected in 2024. He urged attendees to "never sell your Bitcoin" and stated he would dismiss SEC Chairman Gary Gensler on his first day in office. Trump emphasized the need for the U.S. to become a global leader in cryptocurrency, warning that failure to do so would allow countries like China to take the lead. He expressed admiration for the Bitcoin community and suggested that Bitcoin could eventually surpass gold in market value, likening its significance to that of the steel industry a century ago. Trump, who previously criticized Bitcoin, now claims it poses no threat to the U.S. dollar and vowed to prevent the establishment of a central bank digital currency (CBDC) under his administration. Additionally, he promised to commute the life sentence of Ross Ulbricht, the creator of the Silk Road darknet marketplace. The conference also featured pro-crypto Republican Senator Cynthia Lummis, who introduced legislation for a Strategic Bitcoin Reserve. David Bailey, the conference CEO, presented Trump with a Bitcoin on behalf of the Bitcoin community. The event attracted around 3,000 attendees, with many more watching the live stream outside the venue. Next year's Bitcoin conference is scheduled to take place in Las Vegas.