Trump’s Bold Crypto Promises: Will He Follow Through?
Donald Trump courts crypto voters with ambitious promises, but skepticism lingers about his ability to deliver on his pro-crypto agenda.

Former President Donald Trump is actively courting the cryptocurrency community with significant promises aimed at winning over crypto supporters through a robust pro-crypto agenda.
Trump has garnered attention with commitments to safeguard Bitcoin mining rights, halt the establishment of a Central Bank Digital Currency (CBDC), and enhance the United States' position in the global crypto landscape. However, doubts remain about his ability to fulfill these promises.
Republican Party's Draft Political Program
In July, the Republican Party introduced a draft political program that emphasized cryptocurrency as part of its innovation agenda, alongside artificial intelligence and space exploration.
- The platform pledged to “end Democrats’ unlawful and unAmerican crypto crackdown.”
- It assured that a Trump-led administration would advocate for Americans' rights to mine, hold, and trade digital assets free from government interference.
During the 2024 Bitcoin Conference in Nashville, Trump further energized crypto supporters by promising to terminate any “anti-crypto crusade” from the current administration.
Nevertheless, several challenges lie ahead in realizing this vision.
Challenges to Bitcoin Mining Proposals
Trump has proposed ambitious ideas for the domestic Bitcoin mining industry.
- He suggested that all remaining Bitcoin should be mined within the United States.
- This concept, while appealing to some, contradicts Bitcoin’s foundational principle of decentralization, as noted by industry leaders like Bitfarms CEO Ben Gagnon.
Another contentious promise involves Trump's intention to create a national Bitcoin reserve.
- He hinted at establishing a strategic Bitcoin stockpile to address the national debt, which exceeds $35 trillion.
- This proposal faces significant hurdles, particularly legal challenges concerning the U.S. government's existing Bitcoin holdings from seized assets.
Senator Cynthia Lummis and the Bitcoin Reserve
Senator Cynthia Lummis has also proposed the establishment of a Bitcoin reserve, but it would require substantial political backing to materialize.
- Regulation remains a critical issue for the crypto sector, and Trump has taken a strong stance on it.
- He has vowed to dismiss SEC Chair Gary Gensler on his first day in office to introduce more favorable regulations for cryptocurrencies.
Trump's Regulatory Promises
Trump's promise to fire Gensler, a high-ranking official, may involve a lengthy legal process and could provoke political backlash.
- He has also pledged to block any initiatives towards a CBDC, claiming that a centralized digital currency would undermine financial privacy.
- Furthermore, Trump has expressed intentions to commute the sentence of Ross Ulbricht, the founder of Silk Road, suggesting he would “set Ulbricht free” on his first day in office.
Another significant promise is Trump's commitment to uphold the “right to self-custody,” which he aims to enshrine into law.
While these promises resonate with many, Trump's history of making bold claims followed by reversals has left some in the crypto community skeptical about his true intentions.
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