Will a second Trump presidency be good for crypto?

Former US President Donald Trump spoke at the 2024 Bitcoin Conference in Nashville to a large crowd of crypto enthusiasts. He started off his speech by once again showing his primary concern is for Israel, stating that “they” (Hezbollah) just attacked “us” (Israel), and that would never happen if he were President. Indeed all of the presidential candidates on both sides are always Zionists, they have to be to rise to that level of power in America. Jews control the banking system and the media. If any president were to get out of line and not fully support them they have the power to collapse the US economy or even have them killed like they did the Kennedy brothers (but ironically even the third party candidate Robert Kennedy Jr. is a Zionist). Once Trump was finished shilling for Israel, he showed his support for Bitcoin and the crypto community:

“Bitcoin stands for freedom, sovereignty, and independence from government coercion and control! The Biden/Harris administration's repression of crypto is wrong and it's very bad for our country, it’s really quite un-American… I pledge to the Bitcoin community that I will end the crusade on crypto…I will fire the head of the SEC…I will shut down operation choke point 2.0”

• DJT

It is important to remember that Bitcoin performed extremely well in 2017 which was Trump's first year in office. As Trump pointed out, Bitcoin is now the ninth largest asset class in the world, surpassing the market cap of silver and Exxon Mobile. Because Bitcoin is already so valuable, it is likely to perform less well than it did in 2017 but many other alt-coins could go up 10x. Trump mentioned his legal troubles and that the Biden administration has weaponized the legal system against him much like they have done with crypto. He said the Biden/Harris administration is “hell-bent on crushing crypto” and has used government institutions like the SEC to go after it. Ripple (XRP) is currently being sued by the SEC and if Trump were elected that case could be dropped.

“There will never be a CBDC while I’m President of the United States, and I will always defend the right to self-custody.”

• DJT

Trump also pointed out that the US government is one of the largest Bitcoin holders in the world with 210,000 coins or about 1% of all Bitcoin. He admitted that most of this was obtained by government agents stealing it from citizens. Trump pledged to the crowd not to return the stolen Bitcoin to its rightful owners, but rather to never sell it. It is concerning to think that the Biden/Harris administration could potentially dump 210,000 BTC onto the market, perhaps right after losing the election in November. The current administration sees Trump as such a threat to the establishment that they will do just about anything to stop him, including killing him. Since they already failed at that attempt they may move on to something else such as starting World War 3 or a second American Civil War. But even if Trump does win and they let him be president again don’t get your hopes up. He made a lot of promises in 2016 when he was campaigning that he didn’t keep once he was elected president.