Official announcements from the U.S. Treasury Department or Federal Reserve

Trump Promises Crypto Leadership at NYSE, Hints at Strategic Bitcoin Reserve

Dec 12, 2024, 03:00 PM

President-elect Donald Trump has announced plans to significantly advance the cryptocurrency sector in the United States, aiming to establish the country as a global leader in digital assets. Speaking at the New York Stock Exchange, Trump emphasized the need for the U.S. to be ahead in the crypto space, hinting at the creation of a strategic Bitcoin reserve. This move is part of a broader strategy to embrace cryptocurrencies, AI, and increase electricity production, potentially positioning the U.S. to outpace China and other nations in these technologies. Trump's comments signal a stark contrast to the current administration's approach to cryptocurrencies, promising a more supportive regulatory environment. He was interviewed by Jim Cramer, and his comments come as Bitcoin recently crossed the $100,000 milestone. Trump has also endorsed World Liberty Financial, a crypto project, and appointed David Sacks as the White House AI and cryptocurrency czar.