Former President Trump will be the keynote speaker at a high-profile campaign fundraiser in Tennessee, USA, which will be held concurrently with the Bitcoin Conference. The maximum ticket price for the event is $844,600 per person. Many Bitcoin enthusiasts also speculate that Trump is about to endorse "Bitcoin as a reserve asset" at the conference.
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ToggleMake it “crypto-friendly”! Trump attends Bitcoin conference
It is understood that the fundraiser will be held on July 27, coinciding with Trump's expected keynote speech at the largest gathering of cryptocurrency enthusiasts in the country: Bitcoin Conference. The top ticket includes a seat at the round table with Trump and is priced at the maximum amount of an individual’s donation to the Trump 47 Committee, Trump’s largest joint fundraising committee.
The event offers a variety of ticket tiers, with the highest tier priced at $844,600, while lower tiers include photo opportunities with the former president for $60,000 per person or $100,000 per couple. The prices show the exaggerated financial support Trump has received from his pro-crypto stance.
Afraid of blurting out "Bitcoin is a reserve asset". Will Bitcoin rise due to this?
Dennis Porter, an avid Bitcoin supporter, boldly stated that Bitcoin will soon become a strategic reserve asset of the United States and will increase the unit price of Bitcoin to US$1 million. Simon Dixon, another enthusiastic Bitcoin supporter , also cited the case of El Salvador and hopes that Trump will include Bitcoin as a U.S. reserve asset.
As #Bitcoin closes in on becoming 'Strategic Reserve Asset' in the USA it's entirely possible that #Bitcoin will be well on its way to $1,000,000 a coin.
— Dennis Porter (@Dennis_Porter_) July 20, 2024
That means the $13.5 billion in #BTC currently held by the US Marshall's will be worth $210,000,000,000.
Trump’s pro-cryptocurrency stance
In recent months, Trump has recast himself as a pro-cryptocurrency candidate, a stark contrast to his stance during his presidency. In April this year, he launched the latest series of non-fungible tokens (NFTs) on the Solana blockchain and has been an active supporter of cryptocurrencies ever since.
The Trump campaign has also launched a fundraising website that allows any federally permitted donor to donate through its joint fundraising committee using the Coinbase Commerce product. According to its website , cryptocurrency options include: Bitcoin, Ethereum, USDC, SOL, XRP and Shiba Inu Coin.
( Trump accepts cryptocurrency donations, MAGA crypto army will promote campaign victory )
Opposition to crypto regulation
Trump also pledged to protect Bitcoin holders from regulatory action, particularly from Senator Warren, a critic of cryptocurrencies. He made this pledge at the party’s national convention in May, underscoring his commitment to the cryptocurrency community.
Commitment to Bitcoin Mining
After meeting with Bitcoin mining executives, Trump announced that if he returns to the White House, all future Bitcoins will be minted in the United States. This indicates his intention to strengthen the domestic cryptocurrency industry.
Crypto-Friendly Powerful Lieutenant
On Monday, Trump named Ohio Senator Vance as his running mate, a move seen as a boon to the cryptocurrency industry. Vance is a known advocate of looser cryptocurrency regulations and has disclosed his personal Bitcoin holdings, in line with Trump’s pro-crypto narrative.
( Trump chose crypto-friendly Vice President JD Vance, who also personally holds Bitcoin )
Cryptocurrency’s role in elections
The cryptocurrency industry emerged as an important source of financial support during this election. One day after announcing Vance as his running mate, venture capitalists Marc Andreessen and Ben Horowitz announced plans to donate significant amounts of money to pro-Trump political action committees.
Andreessen and Horowitz criticized the SEC's action, highlighting the financial burden that startups face in legal battles. Their support for Trump reflects the overall industry's desire for a more favorable regulatory environment.
Crypto companies are the main source of financial aid
Super PACs backed by top cryptocurrency companies have emerged as major funders this election cycle. Of the $160 million in donations it raised, 94% came from four companies: Ripple, Andreessen Horowitz, Coinbase and Jump Crypto.
