Full text of Trump’s Bitcoin Conference: Bitcoin may surpass gold

We have a lot of people who are supporters, so we need to talk about cryptocurrencies, we need to talk about Bitcoin, we need to talk about all of these great companies. Our country is blessed to have all of the talented people here, really great, even if not all of them are, but we still have a lot of talent, and that’s the spirit that built America, that’s the spirit that will help us make America great again, and that’s what we’re doing.

I stand before you today with so much respect and admiration for what the Bitcoin community has accomplished. I say to my sons, it’s incredible because they know so much more about Bitcoin, much more than someone a little older would. But I say that’s what the steel industry was a hundred years ago, and I think Bitcoin is still in its infancy.

We’re seeing it happen, in just 15 years, Bitcoin has gone from being just an idea posted anonymously on an Internet message board to being the ninth most valuable asset in the world, can you believe it, that’s a big deal. Bitcoin’s market cap is already bigger than ExxonMobil, and soon it will be bigger than the entire silver market cap, and one day it may be bigger than gold, but based on what’s going on right now, it’s very likely to be a reality. There’s never been anything like this, most people have no idea what it is, and when they do, Bitcoin is going to be amazing.

Bitcoin is not only a miracle of technology, it is a miracle of collaboration and human achievement, and the many relationships that have been formed. I just sat in a roundtable meeting with many of the leaders, and obviously there is competition here, but there is also a great camaraderie here, which is really interesting, and what I usually see is the opposite, where business rivals generally want to beat each other. There is a great feeling here, and there are very smart people, and congratulations on all that you have accomplished, and this room is just amazing.

The reason I came to address the Bitcoin community today can be summed up in two very simple words: America First, because if we don’t do it, other countries will. Let’s do it and do it well, and my vision is an America that dominates the future, where we have the best economy, the highest standard of living, the safest, and the most beautiful cities.

When I say safest, our cities are going to hell right now, and we will fix our cities, and we will work with the Democrats who destroyed our cities. We will take our cities back, take our country back, and we will regain all of that, the freest, most ambitious, and most vibrant country on Earth that we once were. Because we are not doing that right now, we are a country in decline, but that’s okay, because we will take it back.

Now this is embarrassing, and if they respected our country, this would never have happened. If we don’t embrace cryptocurrency and Bitcoin technology, other countries will do it, and they will dominate cryptocurrency. We have to be the most successful, and that’s what’s going to happen. I want the United States to be first in technology, first in science, first in manufacturing, first in artificial intelligence, and first in space.

My uncle, Dr. John Trump, is a professor at MIT, and he would fit in well in this room, and I believe he is the longest-tenured professor in the history of MIT. He graduated with great honors, I think he had three different degrees, and he was there for 41 years. When I was in the White House, the dean of MIT came to see me, and they sent me a book about my uncle, who is a legend in academia and a legend at MIT, so I know a lot about what you are doing.

I have a great respect for highly intelligent people, and you are highly intelligent, and the United States needs to be ahead of its competitors in everything, and our industry does not surrender to anyone. Some of you are in artificial intelligence, but you also need something called electricity, and you need a lot of electricity. Even though we have ESG environmental impact reports to deal with, we are going to do something that no one thought was possible. You need a lot of electricity, you need twice the electricity that the United States has now to dominate (in the field of artificial intelligence), and we will do it.

We will build power plants on site, we will generate electricity from fossil fuels because we have to, we will use nuclear energy, we will do it in an environmentally friendly way, but we will generate enough electricity that you will say, “Mr. President, we don’t need more electricity, we can’t afford it, don’t generate any more electricity.”

You know I like Elon (Musk), he’s great, he supports me, but not everyone has to have an electric car, I told him that, and we will remove the mandate. If you don’t mind, some people want gasoline-powered cars, some people want hybrids, and some people like electric cars, and I think they are all great. We have to generate a lot of electricity for artificial intelligence and all the other things you (miners) are doing, and we will generate it quickly, otherwise we can’t compete with other countries.

This afternoon I will announce my plan to ensure that the United States becomes the cryptocurrency capital of the world and the Bitcoin superpower of the world, and we will make it happen. If cryptocurrency is going to define the future, I want it to be mined, minted, and manufactured in the United States. It will be made in America, not anywhere else. If Bitcoin is going to “go to the moon”, I want America to be the country that leads the way, and this will be the case.

You will be very pleased with me, and that is why I am proud to be the first major party nominee in American history to accept Bitcoin and cryptocurrency donations. The crypto community has done a lot, and I admire them very much. Since we announced on May 21, we have raised $25 million, a large part of which is Bitcoin, cryptocurrencies, and other very good currencies.

I am excited about the future of Bitcoin and virtual currencies, our opponents have walked a difficult road, the SEC is very tough on crypto, they have blocked the way for crypto, but I will make it easier for you to develop, and now the SEC sees that you have embraced me, and all of a sudden those who were investigating are giving up. They say they don’t want to do it, they love Bitcoin. But let me tell you, if they win the election, these attitudes will disappear again. They will be fierce and shameless and do things you won’t believe.

I have heard the voices of some of your great geniuses, and I have been told that there are 175 million people involved in some form in this world of cryptocurrency and Bitcoin and everything else. 175 million people. So when they heard that number, they said, at least treat them a little bit better before the election. So I took a lot of pressure off a lot of people. A lot of people are happy today, and they weren’t so happy three months ago.

For three and a half years, the current administration has waged an unprecedented war against cryptocurrencies and Bitcoin. For those of you who work in this industry, they target your banks. They cut off your financial services, has anyone seen that happen? Yes, a lot of hands raised. They block ordinary Americans from transferring money to your exchanges.

They slander you, they say you’re criminals, but this also happened to me because I said the election was rigged, he said the election was rigged, and he should spend the rest of his life in prison for that statement. Of course, all those things they said about us are okay now. By the way, we did very well in the election, you know we recently lost a candidate, Joe Biden. I think we lost this good man.

I made an analogy last night. Last night, think about it, I was speaking in front of a very influential, very powerful, very religious group, Christian group, and then today I come to Bitcoin, and now I’m going to Minnesota for a rally. You think I have a great life, don’t you? I cover a lot of ground, I go from religion to Bitcoin to rallies. I’m not as mixed up as some other people. They come out and say, God bless all those who are involved in the Bitcoin world. But actually, we mean it because you need blessings.

Our country needs to move on. The problem is, Harris is worse than Biden, she’s a fierce leftist. She’s against crypto, very much against it.

If we don’t win this race, this country as we know it may be over, this country will be in a bad state. We have to be there. We have to fight, we have to win. I promise the Bitcoin community that the day I’m sworn in, the anti-crypto campaign of Joe Biden and Kamala Harris will end. As soon as I’m sworn in, the persecution will stop.

Elizabeth Warren and her minions, she’s very nasty to you. She hates your people, hates everything about you. As long as I’m in the White House, we’re going to keep them away from Bitcoin. They’re going to let crypto grow, and we’re going to let it grow. On my first day in office, I will fire Gary Gensler and appoint a new SEC Chairman, one who believes that America should build the future, not hinder it.

And Kamala Harris wants him to be Treasury Secretary, which is not good. He was Hillary Clinton’s finance director, and the opponent is the gentleman known as Donald Trump, a persona non grata in this circle. He actually attended my wedding once, but when you run for public office, a lot of things change your life.

As president, I will immediately stop this “Choke Point 2.0” operation. They want to strangle you and make your business impossible, but I will not let that happen. The government will no longer stand by and watch crypto businesses flee to other countries because American laws are too ambiguous, too harsh, and too inflexible. We will keep every crypto job in the United States.

Immediately after taking office, I will appoint a Presidential Advisory Commission on Bitcoin and Cryptocurrency. Anyone willing to join this special commission? Their mission is to design transparent regulatory guidance for the entire industry, and they will do it in 100 days. We will have regulations, but from now on, those rules will be written by people who love your industry, not people who hate your industry, people who want to make the rules clear, simple, straightforward, and fair, people who want to see your industry thrive, not die.

Next, I will immediately order the Treasury Department and other federal agencies to cease and desist from all necessary steps because you know there is a thing going on in your industry that wants to push for the creation of a central bank digital currency (CBDC). End it, forget it. There will never be a CBDC as long as I am President of the United States.

I will always defend the right to self-custody, you will have a great industry, you will have a great industry, and we will fuel your industry, not destroy your industry. America will once again be a country that protects property rights, privacy rights, freedom of exchange, freedom of association, and freedom of speech. We will change our — — we will return to the days when we were a nation that built, not a nation that fed itself from within.

As part of our efforts to provide regulatory clarity, we will create a framework to allow for the safe, responsible expansion of stablecoins. Do you know what a stablecoin is? This will allow us to extend the dominance of the dollar to new areas around the world. America will be all over the world, America will be richer, the world will be a better place, billions of people will be included in the crypto economy and have their savings in Bitcoin, that’s the truth. Those who say Bitcoin threatens the dollar have it all wrong, Bitcoin is not a threat to the dollar, what is really threatening the dollar is the behavior of the current Biden administration.

The threat to our financial future does not come from cryptocurrencies, it comes from Washington, DC. The threat comes from trillions of dollars of waste, rampant inflation, and open borders, while also providing welfare and free health care to millions of illegal immigrants pouring into our country; the threat comes from printing hundreds of billions of dollars to fund endless wars overseas, while our cities are like war zones at home.

Two weeks ago in Chicago, 117 people were shot and 17 died, and there was nothing like this in Afghanistan. Look at what is happening in our cities, no one has seen anything like this in the last three and a half years. Think about it, is this going to be America? I don’t think so.

When I was president, we didn’t start new wars. Hillary said she would start wars. But my personality will keep us away from wars, we ended some old wars, like ISIS. They said it would take five years, maybe longer, but we defeated ISIS in four weeks. Because we have a great military.

With your support, this November, we will restore confidence and common sense to our nation’s capital. Ultimately, this is not about whether you are conservative or liberal or progressive. They like progressive, it sounds great, but in reality it will destroy our country, it’s a terrible word. But it’s not about that, it’s about common sense, we want to bring common sense back. Everything we talked about today is common sense, and Bitcoin and cryptocurrencies will soar like never before, even beyond your expectations.

When we stop the war on cryptocurrencies, we will immediately start rebuilding our economy, because when America thrives, Bitcoin will soar. We have the greatest economy ever, and we will have it again soon. Under the Trump administration, the typical middle-class family has increased their annual income by $6,000. People don’t like to mention this because Americans have saved more in my four years in office than they have in decades.

Now you have to listen to these numbers, in my four years in office, Bitcoin went up 3,900%, from $898 when I took office to $35,900 when I left office. That’s the biggest gain of almost any industry, think about that number. Compare it to three and a half years after Biden and Harris, Bitcoin is up 50% after adjusting for inflation.

50% sounds good, but it doesn’t compare to nearly 4,000%. When people can’t afford food or rent, they don’t have savings to put in Bitcoin. This administration has caused the greatest inflation in the history of our country, and that’s what happened, and our people were robbed.

From the first day we return to the White House, we will replace the Biden-Harris economic stagnation with a brand new Trump economic boom. You will see a huge boom. You know, there are a lot of great analysts, Scott and others, who say the stock market is going up because Trump will be elected. If Trump is not elected, this country will go into a depression like the Great Depression of 1929.

I wish that wasn’t true, but I understand their point of view. They think the stock market is going up because it looks like we’re going to win the election, but I don’t know what’s going to happen with the election. You know they (the Biden administration) are cheating a lot, and I don’t know what’s going to happen, but if we win, this country is going to be a boom town, it’s going to be booming like it’s never been.

The current administration’s economic plan includes trillions in new spending and $5 trillion in tax increases. They want to increase taxes by $5 trillion.

They want the Trump tax cuts to expire. They want a wealth confiscation tax so that when you make all the money and employ all the people, they want to take your money in the form of unprecedented taxes, including a massive capital gains tax of over 50%. My plan is the exact opposite, we will elevate workers, make more people savers, and reward success, not punish success. They want to punish success, punish genius.

I will not let that happen. I will make the Trump tax cuts permanent and provide big tax cuts for families, individuals, and businesses that create jobs, including no tax on tips. When the tip tax is eliminated, I will cut unnecessary and burdensome regulations, and I work every day to make America the best place in the world to start a business, including a cryptocurrency business. This will be the best place, you don’t need to go to other countries, and most importantly for my citizens we will quickly end the inflation nightmare that this government has created. It has to end, it is destroying our country.

You know, inflation is a nation destroyer. You can look back many years ago to Germany and see what happened during their great inflation, which destroyed the entire country. Bitcoiners, I have to tell you, you recognized the dangers of inflation long before most people did. You understood inflation better than anyone else. You knew that, didn’t you?

If only they had listened to you, but they didn’t. The ridiculous waste of trillions of dollars by our opponents (the Democrats) has resulted in 20%, 30%, even 40% of the value of every dollar being quickly wiped out. You understand that, but many others don’t. The life savings of millions of Americans have been quickly destroyed.

In simple terms, uncontrolled inflation is a hidden tax on the middle class, I called it the “Biden tax”, now the “Harris tax”. But it is a disaster, think about it, it’s a 50% tax on the people. It’s a human tragedy, it destroys people’s lives, it’s a national disgrace, it must never happen again, and when I’m president, I guarantee it won’t happen again, and we’ll take steps to make sure it doesn’t happen.

We’ll increase energy supply to levels that people haven’t seen in years, we used to have $1.87 a liter of oil, now you don’t see it. Under my administration, oil prices were not affected for four years, and when I left office, oil prices were up 1.4%. And then they stayed there for almost two years. I remember when Biden promised it was 9%. But that was just a lie.

When I return to the White House, I will stop the crazy and wasteful spending of this administration. I will end the endless wars. They never stopped. Again, we have no new wars. We have no new wars under your favorite president Trump. But if you don’t elect me, America will be crushed.

They think I will start a war, let me tell you one thing, I will prevent World War III from happening because we have never been closer to a world war since the end of World War II.

I will seal the borders and stop millions of people from entering our country illegally. We will quickly defeat inflation and together bring back the American Dream for citizens of every race, religion, color and creed. We will bring back the American Dream and you won’t even hear the word “American Dream” anymore.

We used to talk about the American Dream, and many of you are chasing the American Dream, but if you don’t elect me, you will be crushed. I hate to tell you that. If you don’t elect me, you will be crushed. You will say what a big mistake it was.

We chose someone who has no talent, who has failed in almost everything she has done, instead of Trump. Look where we are now, we will move from our beautiful house to a teeny tiny house.

We will end the war on American energy, and we will very simply start drilling, drilling, drilling. We have to do this, this is the resource we have. We have more liquid gold than any country in the world, more than Saudi Arabia and Russia. We don’t use it. They use it, we don’t use it, we go to Venezuela to buy oil.

But we won’t stop there, we will use all forms of American energy. I have set an ambitious goal that by the end of my term, the United States will have the lowest energy and electricity costs in the world. With low energy prices, the United States will become the world’s undisputed Bitcoin banking processing center, and you won’t have to immigrate your family to other countries. When we implement these reforms, Bitcoin and cryptocurrencies will strengthen our economy, strengthen the dominance of American finance, and continue the power of our entire country.

Many Americans don’t realize that the U.S. government is one of the largest holders of Bitcoin, did anyone? The U.S. has 1% of all Bitcoin in circulation. But our government is violating a Washington law that every Bitcoin holder knows, don’t sell your Bitcoin! As a final plan today, I am announcing that if I am elected President, this will be the policy I will launch: the U.S. government will retain 100% of the Bitcoin currently held as part of the final launch plan of the U.S. government.

As you know, most of the Bitcoin currently held by the U.S. government was acquired through legal action. They took it from you, they took your lives, they took your families, your homes, your virtual currency. That’s the direction this country is heading, it’s a fascist regime. So, as I take steps to transform that great wealth into a permanent national asset that benefits all Americans, today I reaffirm my commitment to commuting Ross Albrecht’s sentence to time served.

This is where our country is right now. Ultimately, my commitment to each and every one of you is this: I will be the pro-innovation, pro-Bitcoin president that America needs and our citizens deserve. It will be an industry, but it will be an industry that generates growth, and a great industry. I will do the same for every other industry. Our country has never tried to block new ideas, block the dreams of our people. America has always put our flag on the front line of the future and marched forward courageously.

We must do this, we have not done it for a long time, especially in the past three and a half years.

In the history and experience of your professional field (cryptocurrency), you and the future of America are built on your own wisdom, your own determination and your own muscle. This requires courage to do, but most people do not have this courage. My mission is to free you and let Americans do the best, better than anyone else. We will win, win, win, win, win.

Our country cannot fail. We are a failed country now, but we will not fail forever. With your help, we will save our country, we will restore our democracy, and we will make America and Bitcoin better, richer, freer, and greater.

Thank you, bless you, thank you!

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