Trump promises to turn the U.S. into a "bitcoin superpower" if he wins the elections.

Former President Donald Trump stated that he will adopt the use of cryptocurrencies in the United States if he is elected for a second term.

In statements made on Saturday, the Republican presidential candidate sent a message to supporters of digital currencies in which he expressed his desire for the country to become a "bitcoin superpower" under his leadership, Telemundo 51 reported.

In his opening speech at a bitcoin conference in Nashville, Tennessee, he promised to make the United States the "world capital of cryptocurrencies" and to create a "strategic reserve" of bitcoins using the cryptocurrencies currently held by the U.S. government.

He argued that the U.S. must dominate the sector or China will: "If we do not adopt cryptocurrency and bitcoin technology, China will; other countries will. They will dominate, and we cannot allow China to dominate. They are making too much progress as it is," he said.

Trump also promised to remove the chairman of the Securities and Exchange Commission, Gary Gensler, and to create an advisory council on cryptocurrencies if he wins the elections next November.

"We are going to have regulations, but from now on the rules will be written by people who love their industry, not who hate it," Trump said during his speech at the Bitcoin 2024 conference, thus showing a radical shift in his stance on cryptocurrencies, of which he was not previously a fan.

In 2019, he wrote on social media that the value of cryptocurrencies was "highly volatile" and was based "in the air."

However, now Trump presents himself as a supporter of digital currencies, and even last May his campaign started accepting donations in cryptocurrency.

During his nearly 50-minute speech, he repeatedly contrasted his support for cryptocurrency with the Biden administration's efforts to regulate the industry, telling the crowd that the federal government was "blocking their way."

In this regard, he indicated that he would adopt more friendly regulations than those of the probable Democratic candidate, Vice President Kamala Harris.

The Republican Party has promised lighter regulation for cryptocurrencies, and Trump has criticized the Democrats' attempts to regulate the sector.