Trump on bitcoin

Donald Trump has made a significant shift in his stance on cryptocurrencies, now positioning himself as a strong advocate for Bitcoin as he campaigns for the 2024 presidential election. During the Bitcoin 2024 conference in Nashville, Trump promised to transform the U.S. into a 'bitcoin superpower' and pledged to hold government-owned Bitcoin indefinitely if elected. His remarks sent Bitcoin prices soaring above $70,000, although they later corrected after news of a U.S. government Bitcoin market intervention emerged. Trump also proposed removing SEC chairman Gary Gensler and advancing new crypto regulations, appealing to a community that previously viewed him skeptically. His pivot has garnered support from influential figures in the crypto world, including the Winklevoss twins and Jesse Powell of Kraken. This newfound relationship between Trump and the cryptocurrency community indicates a strategic attempt to leverage crypto's popularity for electoral gain.