Trump Promises Bitcoin Stockpile If Elected

At a recent Nashville Bitcoin conference, former President Donald Trump unveiled his ambitious plan to make the U.S. the 'crypto capital of the planet' and establish a strategic bitcoin stockpile if elected in November. This marks a significant shift in Trump's stance on cryptocurrency, previously labeling it a 'scam,' and aligns him with other pro-crypto figures like Senator Cynthia Lummis. Concurrently, the cryptocurrency market is experiencing a downturn, with a 20% decline affecting major coins like Bitcoin and Ethereum, leading to over $1 billion in liquidations. Meanwhile, Justin Sun, creator of TRON, announced a billion-dollar fund to support the struggling crypto sector amid these market challenges. Trump's proposal to keep 100% of U.S. bitcoin holdings raises concerns regarding government control over such decentralized assets, while his intention to fire SEC Chairman Gary Gensler reflects a push against the current administration's regulatory stance. As the election approaches, the crypto industry is keenly observing these developments as they could significantly influence the market's future.