Republican candidate and former U.S. President Donald Trump announced his intention to create a “strategic Bitcoin stockpile” for the United States during his keynote address at the Bitcoin 2024 conference in Nashville. Addressing a room full of Bitcoin enthusiasts, Trump’s declaration came after a week of rumors and reports about his Bitcoin plans, though his announcement remained somewhat vague.

"As the final part of my plan today, I am announcing that if I am elected, it will be the policy of my administration, the United States of America, to keep 100% of all the Bitcoin the U.S. government currently holds or acquires into the future,” Trump said.

During his 45-minute keynote address, Trump promised to end what he described as the Democrats’ regulatory crackdown on cryptocurrency companies and holders. If elected, he vowed to transform the U.S. into a “Bitcoin superpower.” His declaration, “I'm laying out my plan to ensure that the United States will be the crypto capital of the planet,” was met with enthusiastic applause from the audience.

Trump warned that the regulatory challenges faced by crypto companies under the Biden administration would persist if his likely Democratic challenger, Kamala Harris, were elected. “If [the Democrats] win this election, every one of you will be gone,” he told the attendees. “They will be vicious. They will be ruthless.”

Trump’s Bitcoin reserve proposal also mirrors a policy endorsed by Robert F. Kennedy Jr. In a recent speech, Kennedy proposed that the federal government should acquire enough Bitcoin to match the value of the nation’s gold reserves. Kennedy criticized Trump’s changing views on cryptocurrencies but acknowledged the potential of a national Bitcoin reserve.