Regulation
Cryptocurrency Fans Disgusted by Trump’s Rambunctious Appearance at Bitcoin Event
In a 2021 Interview with Fox Businessformer president and convicted criminal Donald Trump has harshly criticized Bitcoin, calling it a “scam” that should be regulated “very, very strictly.”
“The currency of this world should be the dollar,” he said at the time. “And I don’t think we should have all the bitcoins in the world out there.”
But given his commitment indifferent to any beliefIt should come as no surprise that Trump has since completely inconsistent on the subjecteven by issuing a collection of non-fungible tokens (NFT) in 2022 in a brazen attempt to profit from a largely unregulated market.
And now, in his bid to be re-elected as US president, Trump is attempting to woo cryptocurrency voters, too. to appear at this weekend’s Bitcoin Conference in Nashville.
“I will appoint an SEC chairman who will build the future, not block it,” he told the audience, in a complete reversal of his previous position.
But if anyone was expecting him to make a meaningful statement about the future of cryptocurrency regulation in the United States, they were in for a bitter disappointment.
In contrast, Trump gave a completely rambling speech at the conference, drawing incredulous looks and a lot of boredom.
“Most people have no idea what the hell it is,” he said. “So what’s going to happen when everyone finds out? It’s going to be something.”
The price of Bitcoin it actually fell following Trump’s remarks, indicating a lukewarm response.
Even cryptocurrency enthusiasts who were willing to give Trump a free pass because of his regressive beliefs, criminal record and keen interest in ending democracy in the United States they were not impressed.
“I was excited to hear what Trump had to say about #bitcoin, then I [fell] “fell asleep listening to him blather and pander to the crowd,” attendee Mike Doan wrote in a social media post, as spotted by Raw Story“I have to remember to vote for the program, not the personality.”
Other participants took a less nihilistic approach.
“I don’t think Trump’s speech will win him many new voters among Bitcoin supporters,” said cryptocurrency investor Marc van der Chijs. tweeted“On the contrary, many will now see it for what it really is.”
“It was the first time I’d seen him speak in person,” she added. “To me, he sounds like a con man with a low IQ. I wouldn’t believe anything he said to me.”
“It was painful to watch, damaging the reputation of the #Web3 community,” said cryptocurrency industry executive Kai Meinke tweeted“Having a criminal racist on stage, a known liar who just said ‘you will never need to vote again after I’m in office’ and who was babbling a lot of narcissistic nonsense between jokes and empty promises.”
In his speech, Trump promised to create a national Bitcoin “reserve” that would serve as a “permanent national asset.” It’s not yet clear how he plans to do this.
Organizers said Vice President Kamala Harris declined an invitation to attend the conference. However, as Financial Times reportsHarris is seeking a “reset” with cryptocurrency firms, suggesting continued dialogue.
In short, Trump isn’t exactly the poster child the crypto community was hoping for. But given the upcoming election, there’s a lot at stake when it comes to crypto regulation. And given Trump’s role as a puppet who is only influenced by the promise of making money, he might just give them a chance to further their interests as president.
Learn more about Trump and cryptocurrencies: Trump Has Completely Changed His Mind About Cryptocurrencies