Trump reaffirms support for BTC, will choose Musk to lead government reform
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Trump reaffirms support for BTC, will choose Musk to lead government reform
Trump's recent approval ratings have surged significantly.
Navigating Web3 tides with focused insightsSource: cryptoslate
Translation: Blockchain Knight
On September 5, former U.S. President Trump reiterated his support for BTC and the broader crypto asset industry during a speech at the New York Economic Club.
In his address, Trump outlined a broader vision of "national economic revival", stating that his economic policies would foster emerging technologies and industries through clear regulations rather than stifling them.
He added, "We will make America the global capital of crypto assets and BTC."
Trump said that for every new regulation his administration creates, ten existing ones will be eliminated, reducing redundant federal oversight and promoting industrial growth within the United States.
While Trump did not elaborate on the specific types of rules his administration would establish for crypto assets during the speech, he previously vowed to ensure the U.S. would never sell its holdings of approximately 200,000 BTC.
He also pledged to fire SEC (U.S. Securities and Exchange Commission) Chair Gary Gensler on his first day in office.
Trump further revealed that if he wins re-election in November, he plans to establish a government committee led by Elon Musk, founder of Tesla and SpaceX.
This committee would conduct comprehensive financial and performance audits of the federal government, identify areas of waste, and propose "sweeping reforms" to reduce inefficiencies.
Meanwhile, Trump promised that Musk's team would eliminate fraud and improper payments within six months of being formed.
Trump’s pledge to streamline government operations adds a new dimension to his 2024 campaign platform, which has primarily focused on tax reduction, deregulation of energy production, and cutting government spending.
Musk confirmed on social media that he would accept the role if Trump is re-elected, saying, "If given the opportunity, I look forward to serving America—no salary, title, or recognition needed."
However, this proposal has drawn criticism, with union leaders accusing Trump of attempting to undermine nonpartisan federal workers.
On the crypto prediction platform Polymarket, Trump has regained a lead over Vice President Kamala Harris, capturing 53% of market share compared to Harris’s 46%.
This shift marks a key momentum change, as investors and political observers recalibrate their expectations of Trump, who had briefly trailed Harris in previous weeks.
Trump’s recent rebound can be attributed to growing market confidence in his ability to handle major issues such as the economy and immigration.
Polymarket participants overwhelmingly back Trump on economic matters, with 53% believing he would manage the economy better, compared to 44% for Harris.
On immigration, Trump holds an even wider lead, receiving 56% market support versus Harris’s 42%.
Perceptions have shifted following the former president’s increased public appearances. Trump’s frequent activities extend beyond rallies, interviews, and speeches, including appearances on alternative media platforms—for example, co-hosting a podcast with Lex Fridman and conducting an interview with streamer Adin Ross.
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