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Highlights
- Trump vows immediate Ulbricht release on re-election day.
- Trump plans U.S. as global crypto leader, opposes CBDC.
- Strategic National Bitcoin Reserve to hold 1 million BTC.
Speaking at the Bitcoin Conference 2024 in Nashville, former President Donald Trump announced that he would commute Ross Ulbricht’s sentence. During his speech, he told his supporters that if he won a second term, this case will be his priority.
“Enough is enough!” Trump exclaimed with a promise to act immediately on the first day of his presidency.
Ross Ulbricht Freedom Promise Renewed by Trump
In a speech at Nashville’s Bitcoin Conference 2024, Former President Donald Trump said that he would pardon Silk Road Founder Ross Ulbricht. Besides, many members of the Bitcoin community have also shown support for Ross Ulbricht, who has been imprisoned since 2013 after creating and running the darknet market site Silk Road.
Trump: Today, I repeat my pledge to commute the sentence of Ross Ulbricht to a sentence of time served. It’s enough pic.twitter.com/GZOG8mH4cK
— Acyn (@Acyn) July 27, 2024
This earned cheers from some conference attendees as it symbolized the importance of such commitment to them. In response to President Trump’s first promise in May, Ulbricht thanked Trump for providing unwavering support for him hoping that one day he could give him another chance.
Therefore, before the Bitcoin conference, David Bailey, CEO of Bitcoin Magazine, articulated that any presidential candidates wishing to get votes from the crypto community should commit themselves to freeing Ross Ulbricht. For instance, even Kamala Harris should have promised to release convicted black-market marketplace operators if she was present alongside Trump at this year’s BTC event. Robert F. Kennedy Jr had also committed himself earlier, according to David Bailey.
Pro-Bitcoin and Crypto Agenda
Additionally, during his speech Trump outlined an all-encompassing plan aimed at making the US to become number one when it comes to Bitcoins and other cryptocurrencies. This included specific step-by-step plans aimed at making America “the world’s capital of Bitcoins and cryptos.”
Among these features are firing Gary Gensler, SEC Chairman, from his current position within 100 days and establishing an operation named Operation Chokepoint. Also, he assured preventing the introduction of Central Bank Digital Currency (CBDC) and ensuring that people’s rights to self-custody of virtual assets are protected.
Trump, in addition, has a broader goal of creating one united Bitcoin vault. This would involve the US government retaining all its Bitcoin holdings in order to establish a Strategic National Bitcoin Reserve. The President disclosed plans to work together with Senator Cynthia Lummis on the introduction of the Bill for Bitcoin Strategic Reserve.
The effort aims at collecting 1 million Bitcoins over five years from surplus Federal Reserve balance sheet items. Consequently, Trump pointed out that this move would reduce the national debt and strengthen the country’s position financially as well.
Read Also: Donald Trump To Fire SEC Chair Gary Gensler On Day 1
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