Donald Trump took the stage at the Bitcoin 2024 conference in Nashville, marking the first time a former US president has spoken at a BTC-related conference.

In recent months, since May 2024, Trump has been a vocal supporter of the cryptocurrency, generating considerable enthusiasm among digital currency supporters with his speech.

Trump compared the Bitcoin industry to the steel industry a century ago. The former president highlighted that BTC is currently the ninth-most valuable asset in the world and predicted that it will eventually surpass the market value of both silver and gold.

“Congratulations on everything you’ve accomplished,” Trump told the crowd. He emphasized that the US must lead the way in the future of Bitcoin (BTC) ahead of China, a view he has repeated before. “I want the United States to be first in technology,” Trump said. He also mentioned his uncle, an MIT professor, saying he would get along well with the crowd. He mentioned that his administration would generate significant amounts of electricity. Trump also talked about Elon Musk’s endorsement of him on electric vehicles. Trump said that not everyone should own an electric car.

Trump said his campaign had raised $25 million in cryptocurrency, much of it in Bitcoin (BTC). The former president warned that a Harris administration would be “ruthless” with the crypto industry. “This afternoon, I am laying out my plan to ensure that the United States becomes the crypto capital of the planet,” Trump said. “And the Bitcoin superpower of the world.” The 45th president described Biden as “the worst president of the United States” and said Harris does not support cryptocurrency.

He promised that Joe Biden and Kamala Harris’ crypto restrictions would end on day one and that he planned to fire SEC Chairman Gary Gensler that same day. Trump promised to appoint a new SEC chairman if his administration took over. He promised to immediately shut down Operation Chokepoint 2.0 upon taking office. He also promised to create a cryptocurrency council within his administration to develop favorable regulations in the first 100 days. Trump claimed that “there will never be a [central bank digital currency] CBDC” during his term. He also emphasized his support for non-custodial solutions and responsible regulation of stablecoins. Trump argued that BTC is not a threat to the US dollar, saying, “the behavior of the US government threatens the dollar.” Trump said the stock market will soar, but if he loses, the US economy could face a depression similar to the one in 1929.