This article examines the impact of Donald Trump’s speech at the Bitcoin 2024 conference on the value of the MAGA （TRMUP） memecoin and discusses his vision for crypto leadership in the U.S.
Points
- MAGA memecoin drops 9% after Trump’s speech.
- Trump’s vision for U.S. crypto leadership.
- Comparison of Bitcoin to gold and the steel industry.
- Trump’s energy policies and support for crypto mining.
Trump’s ‘MAGA’ Memecoin Drops 9% After Nashville Speech
The MAGA （TRMUP） memecoin, inspired by former President Donald Trump, experienced a sharp 9% drop following his speech at the Bitcoin 2024 conference in Nashville, Tennessee. The token’s value fell from $6.90 to $6.05 shortly after Trump addressed the audience.
Trump’s Ambitions for Crypto Leadership
During his speech, Trump announced a new campaign promise: to create a Bitcoin stockpile for the United States. He pledged that, if elected, his administration would never sell any of the Bitcoin currently held by the U.S. government. “If I am elected, it will be the policy of
my administration to keep 100 percent of all the Bitcoin the U.S. government currently holds or acquires into the future,” Trump stated.
BREAKING: 🇺🇸 DONALD TRUMP PLEDGES TO NEVER SELL #BITCOIN AND HOLD IT AS A STRATEGIC RESERVE ASSET IF ELECTED PRESIDENT pic.twitter.com/bbPRxlZfGZ
https://twitter.com/BitcoinMagazine/status/1817307986848813302
This proposal is intended to serve as the core of the national Bitcoin reserve, which currently includes about $14 billion worth of Bitcoin mostly acquired through Department of Justice seizures.
Political Jabs and Energy Policies
During his speech, Trump took the opportunity to criticize his political opponents. He said, “I’ve got a low I.Q. opponent, I’m not talking about him I’m talking about her,” apparently referring to Democratic candidate Kamala Harris.
Trump also talked about his plans to increase the use of fossil fuels to generate more electricity and criticized current federal incentives for electric vehicles and charging stations.
He further emphasized his support for the cryptocurrency sector, promising that his administration would ensure the future of crypto is firmly rooted in the United States. “If crypto is going to define the future, it will be mined, minted, and made in America,” he said. “If Bitcoin is going to the Moon, I want America to send it there.”
Robert F. Kennedy Jr.’s Bitcoin Plan
Trump’s bold vision for the future of Bitcoin in the U.S. has drawn comparisons to the plans of other political figures. Robert F. Kennedy Jr., another prominent advocate for Bitcoin, has also made significant promises regarding the cryptocurrency. However, some critics, like Peter Schiff, argue that holding Bitcoin as a strategic reserve asset is not a practical approach for the nation.
“There’s nothing strategic about Bitcoin. No nation should own any as a reserve asset,” Schiff argued, suggesting that Kennedy’s promises were more about winning votes than creating effective policy.
Conclusion
Trump’s speech at the Bitcoin 2024 conference and his ambitious proposals for Bitcoin have had immediate market repercussions, with the MAGA memecoin dropping in value. However, his vision for a Bitcoin-led future and his strong stance on energy policies and crypto mining underscore a significant shift in political discourse around digital assets.
解説
- Trump’s proposal to create a national Bitcoin stockpile highlights his commitment to making the U.S. a leader in the crypto space.
- His comparison of Bitcoin to gold and the early steel industry underscores the potential he sees in the cryptocurrency.
- Trump’s energy policies aim to support the growth of Bitcoin mining in the U.S., emphasizing a future where crypto is mined, minted, and made in America.
- The immediate drop in the MAGA memecoin’s value reflects market volatility and investor reactions to political announcements.