Trump Reiterates Plans To Make US World Capital Of Crypto: 'Instead Of Attacking Industries Of The Future, We'll Embrace Them'

Aniket Verma

September 05, 2024

Former President Donald Trump continued his pro-cryptocurrency campaign, promising to provide all necessary support for “industries of the future.”

What happened: During his speech at the Economic Club of New York Thursday, the Republican presidential hopeful reiterated his vision of making the U.S. the world capital of cryptocurrencies and Bitcoin (CRYPTO: BTC).

"Instead of attacking industries of the future, we will embrace them," Trump assured, adding that his government would scrap a minimum of 10 old regulations for every new regulation.

Trump didn't specify or delve further into the type of policy changes that could be expected under his administration vis-Ã -vis cryptocurrencies.

See Also: El Salvador President Nayib Bukele Says Bitcoin Uptake Hasn’t Been A ‘Resounding Success’ — ‘We Have Never Forced Anyone To Adopt It’

Why It Matters: The supportive remarks were the latest in Trump's months-long political push to court the cryptocurrency vote bank.

The presidential candidate earlier pledged to establish a national Bitcoin stockpile to address the U.S.' $35 trillion debt problem, a move that got his fair share of flak from economists.

Last week, Trump said that he would lay a plan to make the U.S. the “crypto capital of the planet.” However, he was yet to follow it up with any concrete announcement.

Of late, his upcoming cryptocurrency venture, World Liberty Financial, has hogged the limelight. Backed by the family-owned conglomerate, The Trump Organization, the project outlined its vision to drive the mass adoption of dollar-pegged stablecoins and decentralized finance (DeFi).

A recent poll shows Trump leading Kamala Harris by 12 points among U.S. cryptocurrency owners, despite his overall national support lagging.

Price Action: At the time of writing, Bitcoin was exchanging hands at $$56,017.86, down 3.44% in the last 24 hours, according to data from Benzinga Pro. Token themed around Trump, Maga Coin, was trading 5.21% lower.

Image via Shutterstock

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