Trump's Full Speech at Bitcoin Conference: Will Establish Bitcoin Strategic Reserve, Fire Gary Gensler
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Trump's Full Speech at Bitcoin Conference: Will Establish Bitcoin Strategic Reserve, Fire Gary Gensler
"Let me reiterate: on my first day in office, I will fire Gary Gensler."
Navigating Web3 tides with focused insightsWritten by: jk, Odaily Planet Daily
The 2024 Nashville Bitcoin Conference welcomed its most high-profile speaker yet—former President Donald Trump. On stage, Trump delivered an impassioned speech outlining his vision for Bitcoin and the future of cryptocurrency. His 40-minute address reflected on achievements during his presidency and laid out a series of policies and initiatives aimed at making the United States the global epicenter of cryptocurrency—including establishing a government Bitcoin reserve and appointing a dedicated crypto advisory committee.
Below is the full transcript of Trump’s keynote speech at the 2024 Nashville Bitcoin Conference, compiled by Odaily Planet Daily:
Our country is incredibly fortunate to have in this room the extraordinary talent, energy, and genius that you all represent. It's remarkable. Genius.
Not everyone—but many of you here. This spirit built America, and this spirit will help us make America great again. Standing before you today, I am filled with admiration and respect for what the Bitcoin community has achieved.
It's incredible. Truly. I often tell my sons—it's unbelievable because they know so much about Bitcoin. They understand it far more than those who are a bit older. I say, it's like the steel industry 100 years ago. And indeed, I think you're just getting started. I can see it unfolding. In just 15 years, Bitcoin has gone from an anonymous post on an internet forum to becoming the ninth most valuable asset in the world. Can you believe that? Isn't that something? Think about it—it’s already bigger than ExxonMobil. Soon it will surpass the entire silver market. That’s a goal—not bad. One day, it might even surpass gold. Given current trends, that’s entirely possible. Nothing like this has ever happened before. I don’t think you’ve ever seen anything like it. Most people don’t even know what it is. But you do.
Right?
So what happens when they finally realize it? That’ll be very interesting. Bitcoin isn’t just a technological miracle—you know that—it’s also a miracle of cooperation and human achievement. Many relationships have been formed through this process, good friendships forged in roundtables with many leaders. Very interesting. Obviously, there’s competition, but there’s also deep camaraderie among people. I’ve noticed that. I usually don’t see that—I usually see the opposite.
They want to destroy each other. But these people have real mutual respect. And they’re very smart. Congratulations on everything you've accomplished. This room is truly astonishing. The people here are extremely intelligent. I’m running against someone with low intelligence (Odaily note: referring to Harris). I'm not joking. She is a low-IQ person.
I’m here today to speak to the Bitcoin community for one simple reason: America First. Because if we don’t do it, China will—and so will others. Let us do it, and let’s do it right.
My vision is an America that leads the future. We have the best economy, the highest standard of living. China is trying to dominate—they’ve made too much progress. But we want them to succeed; we want China to succeed. But we must be the most successful. It’s crucial that we lead and set the standards.
What’s going to happen?
I want America to lead in technology, science, manufacturing, and artificial intelligence. My uncle, Dr. John Trump, was a professor at MIT. He would have fit right in with all of you—that’s why I mention him. He was one of the longest-serving professors in MIT’s history. Our family is very smart—he earned three different degrees. They asked him to stay as a professor, and he served for 41 years. When I was in the White House, the president of MIT gave me a book about my uncle. He was a legend in academia and at MIT. So I know a lot about your work. I deeply respect people of high intellect like you.
America’s destiny is to lead our competitors, never surrender our industries. Some of you work in AI, but you also need something called electricity. AI requires massive amounts of power. China finds this easier because we have environmental impact reports to deal with—but we will do things no one thinks possible. You need double the electricity we currently produce in the U.S. to achieve dominance. We will deliver it. We’ll generate so much power that you’ll say, “Please, Mr. President, we don’t need any more.”
In the Midwest, they just opened EV charging stations. You know, I really like Elon. He’s great. He supports me—that’s fantastic support. But not everyone needs an electric vehicle. I told him that. So we’re eliminating that mandate. Some people like gas cars, some prefer hybrids, some want EVs. All are fine. I think what Elon has done is amazing, and he understands. If he didn’t understand, he probably wouldn’t support me.
But they built eight of these charging stations in the Midwest—at a cost of $9 billion. At that rate, building them nationwide would cost around $12 trillion. If these stations stop working, the country will have to file for bankruptcy. We need common sense. We must be the party of common sense.
Okay?
We must have common sense. But yes, we do need massive power production to support AI and everything you’re doing. We will deliver it. We will be able to compete with China and other nations. So we will deliver it.
This afternoon, I’ll detail my plan to ensure America becomes the global capital of cryptocurrency and the world’s Bitcoin superpower. We will achieve this. If cryptocurrency defines the future, I want it mined, minted, and produced in America—not elsewhere. If Bitcoin is going to “moon,” I want America leading that charge. It will happen. You’ll be very pleased with me. You’ll be very happy.
That’s why I proudly became the first major-party candidate in American history to accept Bitcoin and cryptocurrency donations. And let me tell you, they’ve donated a lot—I’m grateful. Since May 21, when we announced this, we’ve raised $25 billion, a significant portion in Bitcoin, cryptocurrency, and other assets.
But as you know, our excitement about the future of Bitcoin and cryptocurrency stands in stark contrast to our opponents’ approach. They cling to outdated methods. We take the middle path. In campaigning, we are fundamentally different. We understand it. They don’t. They are blocking your way.
I’ve made life much easier for you because the SEC has been tough on you. Now that they see you support me, suddenly those under investigation aren’t facing the same scrutiny anymore. So go ahead and say: “Thank you, President Trump.”
They’re doing this because I’ve heard some of your brilliant minds talk about this. I heard Vivek say 175 million people are involved in the crypto and Bitcoin world in some form. One hundred seventy-five million. When they heard that number, they said, “At least be nice to them before the election.”
So I’ve relieved pressure on many people. Many who are happy today weren’t so happy three months ago.
Over the past three and a half years, the current administration has waged an unprecedented war on cryptocurrency and Bitcoin. For those outside the industry, they’ve targeted your banks, cut off your financial services. Has anyone seen this? Yes, they have. They’ve blocked ordinary Americans from transferring funds to your exchanges. They’ve slandered us as criminals. I’ve experienced that too—because I said the election was rigged. They said, “He should spend the rest of his life in prison for saying that.” Of course, they say that about us too—it’s just…
By the way, our election situation is excellent. You know, we recently lost a candidate—Biden. You might think we lost a good guy, but actually, he was a terrible person, frankly. So don’t feel sad.
We now have an even worse option. But last night I made an analogy. Think about it: yesterday I spoke before a very powerful, influential, religious group—Christians, evangelicals. Today, I’m speaking to Bitcoin enthusiasts. Tomorrow, I’m heading to Minnesota for a rally. You think my life is great, don’t you? But remember, I cover a lot of ground. From religion to Bitcoin to rallies. I won’t mix things up like others who’d say, “God bless everyone involved in the Bitcoin world.” But we’re serious—because you need blessings to accomplish truly extraordinary things.
Last night, we had a wonderful time with Christians—mostly evangelicals. It was fantastic. Then we had a huge rally in Minnesota. They haven’t won there since 1972, when Richard Nixon did. Can you believe it? I think we’re leading in Minnesota, though there’s some shady stuff going on. But I believe we’re doing well. So we’ll leave here and head there for a big rally. It’s an honor to be with you.
Sadly, the attacks on cryptocurrency are part of a broader pattern carried out by the same left-wing fascists who weaponize government against anything threatening their power. They’ve done it to me too. Did you see it? I just won a big case in Florida. Thank you very much. It was the documents case. I had the Presidential Records Act on my side. By the way, Biden does too—but he’s incompetent, and we won’t prosecute him because he’s incapable. I won this case the traditional way. This is called winning. I wanted to win it the Trump way—because they call him incompetent. Think about it. They call him incompetent, but he’s not governing incompetently. How does that work?
He’s not doing it anymore because he performed poorly in the debate. Did anyone watch the debate? Not many. Someone told me, “You did badly in the debate.” I asked why. He said, “Because he couldn’t go on anyway.” He said, “I get it.” That’s exactly what happened. Actually, we had a great debate—a superb debate.
Hey, look—you’ve got to open your eyes. You’ve got to see what’s happening. We have a country to run. The problem is, Kamala is worse. She’s a far-left radical, advocating defunding the police and all sorts of things. So far, she’s still on her honeymoon. But when people get to know her—by the way, she opposes cryptocurrency. Strongly. So I just want you to know—you must go out and vote. Unsurprisingly, these same authoritarians oppose cryptocurrency and are trying to eliminate it. That’s what they want, that’s what they say. Right now, you have the SEC. You know what they’re doing: killing Bitcoin.
The reason is clear: Bitcoin represents freedom, sovereignty, independence from government coercion and control. The Biden-Harris suppression of cryptocurrency and Bitcoin is wrong, deeply harmful to our nation. It’s un-American. As you know, six days ago, we officially defeated the worst president in American history. I believe he is the worst president in American history.
Think about it. Millions are pouring into our country—from prisons, psychiatric hospitals, insane asylums, even terrorists. We’re now the country where the most terrorists enter—the very Israelis you just heard about. They’re coming in unchecked. No one knows what’s happening. We have zero clarity. They’ve lost control of our nation, and only bad things will follow.
It won’t happen. We won’t allow it. We’re defeating them badly. We must ensure this is for our nation. You can’t just be a fighter and then let your guy lose. If he’s down 15, 16, 17 points, they say, “Joe, you can’t win, you’ve got to step down.” He doesn’t want to. He says, “I won’t step down.” They say, “You must.” He says, “I won’t. I have 14 million votes. I won’t step down.” They say, “If you don’t step down, we’ll invoke the 25th Amendment regarding your mental state.” He says, “Like I said before, I think I’ll step down.” So they forced him out.
Think about it: you fight hard, campaign, spend enormous money, time, effort—but he’s losing. Then they say, “Let’s pull him out. We’ll replace him with a new player.” The new player is her—possibly my second choice. He was always my first, but she’d be my second.
Again, if we don’t win this race—I know you’re not deeply political, but you must pay attention because politics affects everything you do. If we don’t win, this country may be finished. If this country falls under their control, we must fight. We must win.
I promise the Bitcoin community: the moment I am sworn in, the Biden-Harris anti-crypto crusade will end. It will end. It will be over. The moment I take office, the persecution stops, the weaponization against your industry ends. As long as I’m in the White House, Elizabeth Warren and her cronies—who despise you and everything you stand for—will not touch Bitcoin. They won’t touch cryptocurrency. They’ll let it grow. We’ll let it grow.
On Day One, I will fire Gary Gensler and appoint a new SEC Chair who believes America should build the future, not block it—exactly what they want. (Odaily note:全场 stands and cheers)
Wow, didn’t expect that to be so popular. Let me say it again: on Day One, I will fire Gary Gensler.
And Harris wanted to make him Treasury Secretary. That’s bad. He was Hillary Clinton’s finance chair. Did you know that? Hillary—she’s a bad person. Remember Hillary? Do you recall he was finance chair for Hillary Clinton’s campaign team—against that gentleman known as Donald Trump? He wasn’t popular at all. Actually, he attended my wedding—you know that? Our First Lady Melania was there, and so were Hillary and Bill. Campaigns change things.
As president, I will immediately shut down "Operation Choke Point 2.0." They want to choke your business. We won’t let that happen. Your government will no longer sit idly by as Bitcoin jobs and enterprises flee abroad due to unclear, harsh, angry, rigid U.S. laws. We will keep every single Bitcoin job in America. That’s what we’ll do. Immediately upon taking office, I will establish a Presidential Advisory Committee on Bitcoin and Cryptocurrency. Who wants to join this special committee?
Their mission will be to design transparent regulatory guidance for the entire industry—and they will complete it. Within 100 days, we will have regulations—but from now on, rules will be written by people who love your industry, not those who hate it. These people will want clear, simple, straightforward, fair rules. They want your industry to thrive—not fail.
Next, I will immediately order the Treasury and other federal agencies to halt all necessary steps. There’s one thing happening in your industry—they want to move toward creating a central bank digital currency. Forget it. When I’m president of the United States, there will never be a central bank digital currency. I will always defend the right to self-custody and self-sovereignty. We will have a great industry. You will have a great industry. We will advance your industry—not destroy it. America will once again become a nation that protects property rights, privacy, freedom of transaction, association, and speech. We will change—we will return to being a nation that builds, not one that devours itself from within.
As part of our effort to provide regulatory clarity, we will create a framework enabling the safe, responsible expansion of stablecoins. Do you know what stablecoins are? Anyone? Please raise your hands. This will allow us to extend the dollar’s dominance, creating new frontiers worldwide. America will grow richer, the world better, billions brought into the crypto economy, their savings stored in Bitcoin.
Those who claim Bitcoin threatens the dollar have it completely backward. I believe the exact opposite. Bitcoin does not threaten the dollar. What threatens the dollar is the current behavior of the U.S. government. The danger to our financial future comes not from cryptocurrency—but from Washington, D.C. It comes from trillions wasted, rampant inflation, open borders, and providing welfare and free healthcare to millions of illegal immigrants flooding into our country.
It comes from printing hundreds of billions to fund endless foreign wars while our cities resemble war zones. Just two weeks ago in Chicago, 117 people were shot in seven days. Afghanistan doesn’t have that.
You know, think about these places, see what’s happening in our cities—what’s happened over the past three, three-and-a-half years. No one has ever seen anything like this. Consider: over the July 4th weekend, 117 people were shot. One hundred seventeen, 17 dead. This is America. I don’t think so.
By the way, when I was president, we had no new wars. We didn’t start any wars. Remember how Hillary said I’d start wars? Look at her character. No, I said my temperament would keep us away from war. We ended old wars—like ISIS, which they said would take five or more years to defeat. We did it in four weeks. Some said it would take longer, but we had a great military. By the way, it wasn’t a “woke” military. Maybe some at the top are woke, but our military isn’t. I saw it firsthand. They did what no one thought possible.
Our real generals and soldiers aren’t woke. They try to make them woke, but these men won’t wake. I can assure you of that. With your support, this November we will restore competence and common sense to our nation’s capital. Because ultimately, this isn’t about conservative, liberal, or progressive. They love the word “progressive”—it sounds good, right? But it will destroy our nation. It’s actually become a terrible word. It will destroy our nation. It’s about common sense. We want to bring back common sense. What we’re discussing today is common sense. Bitcoin and cryptocurrency will soar beyond anything you’ve imagined. Precisely because of your efforts, we will stop the war on crypto.
We will begin rapidly rebuilding our economy because when America thrives, Bitcoin surges. We once had the greatest economy—we’ll have it again soon.
During the Trump administration, the typical middle-class family’s income rose by $6,000 annually. People don’t like to mention that. As a result, Americans had more money to save than at any time in decades. During my four years in office, Bitcoin surged 3,900%—from $898 when I took office to $35,900. That’s nearly the biggest gain in any industry. Think about it.
Now compare that to what we’ve seen under Biden and Harris in three and a half years. Inflation rose by 50%. Now, 50% sounds okay—until you compare it to nearly 4,000%, right? Usually you’d say, “Oh, 50% sounds good.” But when people can’t afford food or rent, have no savings to put into Bitcoin, this administration has caused the worst inflation in our nation’s history. Our people are being wiped out.
From the first day we retake the White House, we will replace Biden-Harris economic stagnation with a new Trump economic boom. You’re going to see massive prosperity. You know, there are many great analysts out there. Scott—I’m talking to you, Scott—you’re one of the greatest.
Others say the stock market is rising because they believe Trump will win. If Trump doesn’t win, they believe the country will face a depression like 1929. I hope that’s not true, but I understand why they say it. The market is rising because it looks like we’ll win the election. I don’t know what will happen—I know they cheat terribly. I don’t know. But if we win, this country will be a city of prosperity. It will prosper like never before.
The current administration’s economic plan includes trillions in new spending and $5 trillion in tax hikes. They want to raise $5 trillion in taxes. They want the Trump tax cuts to expire. They want a wealth confiscation tax—meaning when you’ve earned all your money and hired all these people, they want to take it from you via unprecedented taxation and massive capital gains taxes—over 50% in many states.
My plan is the complete opposite. We will lift up workers, turn many into savers. We will reward success, not punish it. They want to punish success and genius. We won’t let that happen.
I will make the Trump tax cuts permanent and provide massive tax reductions for families, individuals, and job-creating businesses. This includes eliminating the tip tax. You know that, right? We will eliminate the tip tax.
I will cut unnecessary and burdensome regulations. Every day, I’ll work to make America the best place in the world to start a business—including crypto businesses. It will be the best place. You won’t have to go to China, won’t have to learn Chinese. I have a little granddaughter who speaks fluent Chinese. Can you believe it? It’s wonderful, but not easy. But you won’t have to. Most importantly for our citizens, we will end the government-made inflation nightmare—and end it quickly. It must end. It’s destroying our nation. Inflation can destroy a country. Go back to Germany decades ago. See what happened during hyperinflation. It destroyed the nation. It’s a destroyer of countries.
To you Bitcoin supporters, I say: you recognized the danger of inflation long before most others. You understand inflation better than anyone. If only they had listened. They didn’t. The trillions in absurd waste approved by our opponents led to the inflation disaster Bitcoin supporters predicted. The value of every dollar was rapidly erased—20%, 30%, even 40%. You understand this, but many others don’t. Millions of Americans’ life savings were swiftly destroyed. Runaway inflation is a hidden tax on the middle class. Indeed. A hidden tax. I call it the “Biden tax.” Now I call it the “Harris tax” or “Harris-Biden tax”—whatever we call them. But it’s a disaster. It’s a 50% tax on people.
It’s a human tragedy, destroying lives. It’s a national shame, destroying everything. We must never allow it again. And it won’t happen. When I’m president, I guarantee it won’t happen—because we’ll take action to prevent it. They’ve let prices spiral out of control. We’ll fix energy, bring prices down to levels unseen in years. We once brought gas down to $1.87 per gallon. You don’t see that anymore.
During my four years in leadership, we had almost no inflation. When I left office, inflation was 1.4%—and stayed near that level for nearly two years. Remember when Biden said he inherited 9% inflation? That’s just another lie—disinformation, misinformation. We gave them a red-hot economy. We went through COVID and did exceptionally well. But we never got credit. Always credited for the economy and military. We rebuilt the military, created the Space Force. We did many great things—never acknowledged.
Did you know? We gave them a great country with no inflation. Two years later, they drove the nation to inflation peaks. Cost of living rose over 50% in some cases. They say 22%, but depending on what they include, it could be far higher. They don’t count interest rates rising from 2.5% to 10%, making borrowing impossible.
When I return to the White House, I will stop this administration’s reckless, wasteful spending. I will end endless wars. Again, under your favorite president, Trump, we had no new wars. They thought I’d start wars. Let me tell you something: I will prevent World War III—because we are closer to it now than at any time since WWII ended. I will secure the border, stop millions of illegal entries. We will defeat inflation completely, restoring the American Dream for citizens of every race, religion, color, and creed. We will restore the American Dream. You never hear “American Dream” anymore. You don’t hear those words. We used to talk about the American Dream. Many of you are living it—but if you don’t elect me, you will be destroyed. I hate to tell you, but if you don’t elect me, you will be destroyed. You’ll say, “What a huge mistake. We chose someone without talent. She failed at almost everything instead of choosing Trump. Look where we are now. We’ll go from beautiful homes to tiny apartments.”
We will end the war on American energy, and we will simply drill, baby, drill. We will drill, baby, drill. (Odaily note: "Drill baby drill," a 2008 Republican campaign slogan) We must. Beneath our feet lies more liquid gold than any other nation—more than Saudi Arabia and Russia combined. We don’t use it. They do. We buy oil from Venezuela. Unbelievable.
But we won’t stop there. We will harness all forms of American energy. I’ve set an ambitious goal: by the end of my term, America will have the lowest energy and electricity costs in the world. We can do this cheaply because we sit atop vast resources. With low energy costs, America will become the world’s undisputed Bitcoin mining powerhouse. You will become the Bitcoin mining superpower. You won’t have to move your families to China. You won’t move to China.
As we implement reforms, Bitcoin and cryptocurrency will drive economic growth, solidify America’s financial dominance, and strengthen the nation for generations. Many Americans don’t know this: the U.S. government is already one of the largest holders of Bitcoin.
Did you know? The federal government holds nearly 210,000 Bitcoins—about 1% of total supply. But for too long, our government has violated a basic principle every Bitcoiner knows: “Hold, don’t sell.” (Odaily note: HODL) Right? How can I understand this? Never sell your Bitcoin.
So, as the final part of my plan today, I announce: if elected, my administration’s policy will be that the United States will retain 100% of all Bitcoin it currently holds or acquires in the future. We will keep 100%. May you do well. This will effectively form the core of a strategic national Bitcoin reserve.
As you know, most Bitcoin currently held by the U.S. government was obtained through law enforcement actions. You know—taken from you. “Let’s take that man’s life, take his family, his house, his Bitcoin.” Taken from you because this is the direction we’re headed. This is where the nation is going under this fascist regime.
We will act to transform this vast wealth into a permanent national asset benefiting all Americans. Today, I reaffirm my commitment to commute Ross Ulbricht’s sentence to time served. He has paid enough. That’s what this country is about.
Ultimately, my promise to everyone is this: I will be the president America needs—one who supports innovation and Bitcoin. This will be a thriving industry, a great industry. I will do the same for other industries. Our nation has never prospered by censoring new ideas and crushing people’s dreams.
America has always planted its flag on new frontiers, boldly advancing. We must do that again. We haven’t done it in a long time—especially not in the past three and a half years, when the opposite occurred.
You here carry forward the legacy of generations of American pioneers, patriots, adventurers, and rebels who settled this continent and built the modern world. You stand on the frontier. You know it, Bitcoiners, don’t you? You are the modern-day Edisons, Wright brothers, and Henry Fords. What you’re doing in your lifetimes has the potential to surpass us all and inspire generations.
Today will be remembered as a historic day in your industry’s history. With your intellect, courage, and personal investment, you are building America’s future. You’ve invested deeply—that’s what you’re doing. It takes courage. Most people don’t have that courage.
My job will be to set you free—to do what you do best. And you will do it better than anyone: win, win, win. You will win with rare energy, passion, and intelligence. Our nation cannot fail. Right now, we are a failing nation—but not for long. Our nation cannot fail. With your help, we will save our country, restore our republic, and make America—and Bitcoin—bigger, better, stronger, richer, freer, and greater than ever before.
Thank you all. I hope you enjoy yourselves in Bitcoin, cryptocurrency, and all your other endeavors. We will make this one of the greatest industries on Earth. Best of luck, and God bless you. Thank you.
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