Key Bitcoin Day This Saturday! Trump Attending Bitcoin Conference Fundraiser, Could Slip "Bitcoin as Reserve Asset"?
Former President Trump is set to speak at a high-profile fundraising event in Tennessee, USA, which will coincide with a major Bitcoin conference. The event's top ticket is priced at $844,600 per person. Many Bitcoin enthusiasts speculate that Trump may endorse "Bitcoin as a reserve asset" at the conference.
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According to reports, a fundraising event is set to take place on July 27, coinciding with Trump's keynote speech at the largest cryptocurrency enthusiast gathering in the country: the Bitcoin Conference. The highest ticket prices include roundtable seats with Trump, priced at the maximum donation to Trump's largest joint fundraising committee, the Trump 47 Committee.
The event offers various ticket levels, with the highest tier priced at $844,600. Lower levels include opportunities for photos with the former president at $60,000 per person or $100,000 per couple. These prices reflect the significant financial support Trump has garnered from his stance on supporting cryptocurrency.
Fear of Mentioning "Bitcoin as Reserve Asset" - Will Bitcoin Surge as a Result?Bitcoin enthusiast Dennis Porter boldly claims that Bitcoin is on the verge of becoming a strategic reserve asset for the U.S., potentially driving the price of Bitcoin to $1 million per coin. Another Bitcoin advocate, Simon Dixon, referenced the case of El Salvador and hopes that Trump will consider incorporating Bitcoin as a U.S. reserve asset.
In recent months, Trump has reshaped himself as a proponent of cryptocurrency, a stark contrast to his position during his presidency. In April of this year, he launched a new series of non-fungible tokens (NFTs) on the Solana blockchain and has since been actively supporting cryptocurrency.
Trump's campaign team also launched a fundraising website that allows donations from any federally permissible donor to be made through his joint fundraising committee using Coinbase Commerce products. According to their website, cryptocurrency options include Bitcoin, Ethereum, USDC, SOL, XRP, and Shiba Inu coin.
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Position Against Cryptocurrency RegulationTrump has also pledged to protect Bitcoin holders from regulatory actions, especially those critical of cryptocurrency, like Senator Warren. He made this commitment at the party's National Convention in May, emphasizing his dedication to the cryptocurrency community.
Promise on Bitcoin MiningAfter meeting with Bitcoin mining executives, Trump announced that if he were to return to the White House, all future Bitcoin would be mined in the U.S. This indicates his intention to strengthen the domestic cryptocurrency industry.
Trump Meets Bitcoin Miners, Promises to Protect Mining: Hopes the remaining Bitcoin will be mined in the U.S.
Crypto-Friendly Strong AllyOn Monday, Trump appointed Ohio Senator Vance as his running mate, a move seen as favorable to the cryptocurrency industry. Vance is a known advocate for relaxed cryptocurrency regulation and has publicly disclosed his personal Bitcoin holdings, aligning with Trump's narrative of supporting cryptocurrency.
Trump Chooses Crypto-Friendly VP J.D. Vance, who also holds Bitcoin personally
The Role of Cryptocurrency in ElectionsIn this election, the cryptocurrency industry has become a significant source of financial support. Just a day after announcing Vance as his running mate, venture capitalists Marc Andreessen and Ben Horowitz announced plans to donate substantial funds to political action committees supporting Trump.
Andreessen and Horowitz criticized the SEC's actions, emphasizing the financial burden faced by startups in legal battles. Their support for Trump reflects the industry's desire for a more favorable regulatory environment.
Crypto Companies as Major ContributorsSuper PACs supported by top cryptocurrency companies have become major donors in this election cycle. Of the $160 million raised, 94% came from four companies: Ripple, Andreessen Horowitz, Coinbase, and Jump Crypto.