Donald Trump dubbed 'liar' as he vows to make US 'bitcoin superpower of the world' despite past criticism

NASHVILLE, TENNESSEE: Republican presidential nominee Donald Trump clarified his changed stance on bitcoin on Saturday, July 27, committing to establishing the US as the "crypto capital" and the "bitcoin superpower of the world."

"The reason I have come to address the Bitcoin community today can be summed up in two very simple words: America first," Trump addressed the Bitcoin conference in Nashville, Tennessee, delivering a speech broadcast live in full on Newsmax and the free Newsmax2 streaming service.

Donald Trump emphasizes importance of America leading in Bitcoin community

Donald Trump emphasized an "America first" approach within the Bitcoin community, stating that if the US does not lead, China and others will follow. He stressed the need for a dominant America in the future.

He went on to say, "Because if we don't do it, China is going to be doing it. Others are going to be doing it. Let's do it and do it right. My vision is for an America that dominates the future."

Trump criticized the Biden administration for attempting to overregulate cryptocurrency, arguing that the US should foster innovation rather than hinder it.

"If we don't embrace crypto and bitcoin technology, China will; other countries will," Trump remarked repeating it. "They'll dominate, and we cannot let China dominate. They are making too much progress as it is."

"I want the United States to be first in technology, first in science, first in manufacturing, first in artificial intelligence, and first in space," he said.

"This afternoon, I'm laying out my plan to ensure that the United States will be the crypto capital of the planet, and the bitcoin superpower of the world, and we'll get it done," he further added.

The former president stated, "If crypto is going to define the future, I want to be mined, minted, and made in the USA. It's going to be. It's not going to be made anywhere else. And if bitcoin is going to the moon — as we say, 'It's going to the moon' — I want America to be the nation that leads the way. And that's what's going to happen."

Donald Trump was once a critic of cryptocurrency

In 2019, Trump expressed his opposition to Bitcoin, as reported by CNN. “We have only one real currency in the USA, and it is stronger than ever,” Trump wrote on Twitter in 2019. “It is called the United States Dollar!”

According to Newsmax, once a critic of cryptocurrency, Trump has shifted his stance and now fully embraces it to enhance its prominence in America.

Trump said, "No, you're going to be very happy with me. You're going to be so happy. You're going to say, 'He's the greatest guy.'"

At the Bitcoin conference, Trump attacked President Joe Biden and Vice President Kamala Harris for their "hell-bent on crushing crypto," citing the fact that the technology represents "freedom, sovereignty, and independence."

"It should be no surprise that these same totalitarians are hell-bent on crushing crypto and obliterating it," Trump said. "And that's what they want to do."

He continued, "You know what they're doing, obliterating bitcoin. The reason could not be more clear, because bitcoin stands for freedom, sovereignty, and independence from government coercion and control."

"The Biden-Harris administration's repression of crypto and bitcoin is wrong, and it's very bad for our country. It's really quite un-American," he added.

Donald Trump pledges to support innovators

According to Trump, the US government "has almost 210,000 bitcoins or 1% of the total supply that will ever exist." He stated that selling them would violate the current ban, which he promised to abolish if elected.

"But for too long, our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin, Right? That's right, isn't it? How did I figure that one? Never sell your bitcoin," Trump suggested to the public.

He asserted, "And so as the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the bitcoin."

Trump concluded his speech with a pledge to support innovators.

"Ultimately, my promise to each and every one of you is this: I will be the pro-innovation and pro-bitcoin president that America needs and our citizens deserve," Trump said.

He went on to say, "This will be one industry, but this will be a thriving industry, a great industry. And I'm going to be doing the same thing for every other industry. Also, our nation has never thrived by trying to censor new ideas and shut down the dreams of our people."

"America always plants our flag on the next frontier and pushes boldly ahead. We have to do that," he concluded.

The reasons behind Trump's complete reversal on bitcoin remain undisclosed by his campaign. Additionally, Trump has not addressed a major critique of digital currencies: their limited practical, real-world applications beyond being a volatile investment option.

Internet dubs Donald Trump 'liar'

Donald Trump's announcement that the US will become the global crypto capital and Bitcoin superpower sparked a significant reaction on the internet.

A user claimed talking about Trump, "He’s a liar and I’m saying this as a hodler."

Another user added, ""Says the man who has failed in everything he has ever touched...."

"He says a lot of things. Most of it is nonsense. Trump is not the Bitcoin savior you guys are making him out to be," one remarked.

A person said, "Only fools believe this nonsense."

Another one said, "Insanely bullish."

 

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.