Donald Trump Jr. at the Bitcoin2024 conference in Nashville. He declared Bitcoin as a hedge against inflation and authoritarian governments. His words set the stage for his father, former President Donald Trump's inaugural address.
In his speech, Donald Trump refrained from promising to make Bitcoin the official strategic reserve currency of the USA. Instead, the Republican presidential candidate vowed to maintain the current level of BTC holdings, which the US has accumulated by seizing the assets of financial criminals:
“For too long, our government has violated the basic rule that every BTC user knows by heart: Never sell your Bitcoin. “If elected, it will be my administration's policy to retain 100% of all BTC that the US government currently holds or will acquire in the future.”
Trump's strategy is in line with a popular sentiment in cryptocurrency circles to not sell Bitcoin in both bull and bear markets. This approach contrasts with the current policy of the US government, where the US Marshals Service regularly auctions Bitcoin and other cryptocurrencies such as Ethereum and Litecoin. Such sales can sometimes impact crypto prices, as seen earlier this month when Germany began liquidating hundreds of millions of dollars worth of confiscated Bitcoin.
*This is not investment advice.
