Trump: "I ended Biden's war on Bitcoin and crypto"

US President Donald Trump once again expressed his deep interest in the sector by saying that he would make America the capital of crypto currencies. Speaking at the Future Investment Initiative Institute conference in Miami, Trump said, "As everyone knows, I am determined to make America the capital of crypto assets. We want to be ahead in everything, and crypto assets are one of these areas." He also stated that he "ended the crypto asset war with the Biden administration."

The statements in question came after Bitcoin traded just below $96,700 on Wednesday evening, following its all-time high above $108,000 earlier this year.

Trump positions the US as a global crypto leader

Since Trump's presidential campaign and election, he has positioned himself as a supporter of digital assets. Last year, before being elected, he promised to make the US the "crypto capital of the world." Since taking office, he has taken steps to support the industry, such as appointing former regulator Paul Atkins, celebrated by the crypto sector as a crypto-friendly figure, to lead the US Securities and Exchange Commission. Furthermore, efforts to establish a national Bitcoin reserve are still ongoing. While executive orders aiming to make America the world's crypto capital have been signed, work on a Bitcoin strategic reserve continues.

Trump criticized the regulatory stance of the SEC during former President Gary Gensler's tenure. He claimed that many indictments related to cryptocurrency were politically motivated and alleged that their impact led to their rejection before the elections. The agency, which carried out numerous sanction actions against crypto companies throughout Gensler's term, had long been seen as an enemy to the sector. Trump claimed on Wednesday that he had 'completely ended this war.' Amid various lawsuits against the sector, he emphasized the previous administration's hostility towards the sector.

The pro-Bitcoin president argued that the SEC's actions in suing crypto-related entities before following a fair path were politically motivated. Trump stated that the SEC dropped some of these charges before the election, but the administration had already lost the industry's support. However, Trump emphasized that he supported cryptocurrency not for political reasons, but because he wanted to be at the forefront of every sector.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making decisions.