In a highly anticipated speech at the Bitcoin2024 conference held at Music City Center in Nashville, former President Donald Trump expressed his support for Bitcoin and innovation, promising to be "pro-Bitcoin" and "pro-innovation" if reelected in November.

Taking the stage nearly an hour later than scheduled, Trump received a warm welcome from the crowd of thousands as the iconic anthem "God Bless the USA" played over the speakers.

During his speech, Trump emphasized the importance of embracing new ideas and not censoring innovation. He made a series of promises, including his intent to fire U.S. Securities and Exchange Commission Chairman Gary Gensler and commute the life sentence of Silk Road mastermind Ross Ulbricht on his first day back in office.

One of the key highlights of Trump's speech was his commitment to preserving the United States' position as one of the largest holders of Bitcoin. He pledged that if elected in 2024, his administration would ensure that the U.S. government retains all the Bitcoin it currently holds, establishing it as the "core" of a Strategic National Bitcoin Stockpile.

Trump noted that the government's policy would be to hold on to 100% of Bitcoin it acquires in the future, echoing the sentiment of Bitcoiners who understand the risks of inflation. He criticized the current administration for what he referred to as the "Biden tax" or the "Harris tax," which he said was an inevitable consequence of inflation, eroding the value of Americans' savings.

Furthermore, Trump vowed to address the issue of inflation and halt what he referred to as "wild and wasteful spending" of the current administration. He asserted his commitment to closing the borders, stopping what he perceived as an escalation toward World War III, and reviving the American dream for all citizens.

The former president positioned the United States as a leading force in the cryptocurrency and Bitcoin space, stressing the need to outpace China and other nations. He aimed to make America the "crypto capital of the world" by promoting domestic Bitcoin mining, minting, and innovation.

Trump's speech received resounding applause from the crowd, and hundreds of attendees who could not enter the main hall watched the livestream in overflow rooms nearby.

With the Bitcoin2024 conference coming to a close shortly after Trump's speech, eager conference-goers hurriedly exited the Music City Center, marking the end of a weekend filled with excitement and fervor for cryptocurrencies.

As the U.S. government continues to hold over $5 billion-worth of Bitcoin acquired through legal seizures, Trump's promises regarding the retention of these assets for a Strategic National Bitcoin Stockpile may have lasting implications for the country's stance on cryptocurrencies.

Overall, the former president's address showcased his support for Bitcoin, promising to create a favorable environment for innovation within the cryptocurrency industry if he were to be reelected in the upcoming election.