Trump tells Bitcoin investors of plans to fire SEC chief on 'day one'

Though he is now almost certain to face a different opponent in the 2024 presidential election than originally planned, Donald Trump is already setting the stage for what he believes will be his second term in the White House.

As such, he made an interesting guarantee to a Nashville audience over the weekend regarding his plans for the Securities and Exchange Commission, stating that he will fire its current chief, Gary Gensler upon taking office in January, as the Daily Mail reports.

Trump vows high-profile firing

The former president spoke to a crowed at the Bitcoin 2024 conference on Saturday, and that is where he touted the benefits of less regulation and made his blockbuster personnel pledge.

“On day one I will fire Gary Gensler,” Trump declared.

The promise elicited raucous applause from those in attendance.

“I didn't know he was that unpopular,” Trump replied, clearly taken aback by the audience reaction.

Perhaps he should have expected the response, however, given Gensler's history of stringent enforcement actions targeting cryptocurrency markets and Trump's stated intention to replace the current SEC head with someone more favorable to the industry and to develop a crypto-focused advisory council to assist in the formulation of regulatory rules.

Courting crypto

Trump suggested that the United States is well-positioned to become the world's “crypto capital” in the wake of what he described as the Biden administration's attempts to impose burdensome regulations on the markets.

In his quest to woo potential voters in attendance, Trump said, “I pledge to the Bitcoin community, the day I take the oath of office, Joe Biden's and Kamala Harris' anti-crypto crusade will be over. It will end. It will be done.”

He went on, “The moment I'm sworn in, the persecution stops and the weaponization ends against your industry.”

Trump's words on Saturday, however, represent a significant reversal from where he stood just a few years ago, when he said, “Bitcoin, it just seems like a scam,” and opined, “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”

Given the apparent contradiction, it remains to be seen whether substantial numbers of Bitcoin investors will view Trump's weekend words as evidence of a true change of heart or simple election year pandering that they are likely to disregard when it comes time to head to the polls.