U.S. President Donald Trump reaffirmed his strong support for cryptocurrencies, pledging to make the United States the global hub for Bitcoin and digital assets during his address at the American Business Forum in Miami, Florida, on November 5th.
Speaking at 1 p.m. local time on the first day of the event, Trump declared, “We are here to embrace an important industry in Miami,” signaling his administration’s commitment to strengthening America’s leadership in the digital economy.
Trump stated that his government has made a historic policy shift in Washington’s stance toward cryptocurrencies.
“I signed a historic executive order ending the federal government’s war on cryptocurrency. Cryptocurrency was under siege, but not anymore,” he told the audience.
Industry Potential and Economic Impact
Emphasizing the industry’s scale and potential, the President said, “It’s a huge industry with a lot of great talent and great business people who are involved in other sectors but also in crypto.”
He added that embracing crypto innovation would ease pressure on the U.S. dollar and bring “many positive effects” to the economy.
Contrast with Previous Administration
Trump contrasted his administration’s approach with that of former President Joe Biden, accusing the previous government of hostility toward the crypto sector.
“They cracked down on people involved in cryptocurrencies, and it was terrible. Some people were even indicted,” he said.
Strategic Vision and Global Competition
Positioning digital assets as part of America’s strategic priorities, Trump declared, “We will make America the Bitcoin superpower and the crypto capital of the world,” also linking his vision to technological dominance by pledging to make the U.S. the “undisputed leader in AI.”
He warned that global rivals, particularly China, are racing to lead the industry. “If we don’t get it right, China and others will,” Trump cautioned.
Alignment with Current Initiatives
While the Miami speech reinforced his pro-crypto stance, Trump did not announce any new directives or timelines. His remarks align with recent White House moves, including the creation of a Strategic Bitcoin Reserve and an American Digital Asset Stockpile using seized cryptocurrencies, though no direct government Bitcoin purchases have yet been made.