Trump Vows to Make U.S. the “Undisputed Bitcoin Superpower”

U.S. President Donald Trump said in a March 20 virtual address to the Blockworks Digital Assets Summit in New York that his administration would work to make the U.S. the undisputed Bitcoin superpower and the crypto capital of the world, along with a slew of other promises.

Trump began his address by mentioning the crypto initiatives his administration has pursued since taking office, such as the White House's first-ever digital assets summit earlier this month and his executive order to create a strategic Bitcoin reserve and digital assets stockpile.

Trump also used the occasion to criticize former president Joe Biden for “foolishly selling” the Federal Government’s crypto holdings for a fraction of their potential long-term value.

More importantly, the President reiterated his intentions to end the Securities and Exchanges Commission’s (SEC) regulatory war on crypto, particularly Operation Choke Point 2.0, an alleged government campaign against crypto.

“We're ending the last administration's regulatory war on crypto and Bitcoin, and that includes stopping the lawless 'Operation Choke Point 2.0,'" Trump said.

Crypto markets dropped sharply after his remarks as traders appeared disappointed by the lack of new information. Bitcoin dipped under $84,000, while ETH and SOL reversed the previous day’s gains.