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Trump Plans a Speech to Bitcoin Faithful. Big-Money Donors Are the Target.
Some investors think Trump will use the platform to make a major announcement, such as to throw his support behind having the U.S. buy Bitcoin as a “strategic reserve” asset,




By
Joe Light
July 26, 2024 3:00 am ET

Donald Trump.
Brandon Bell/Getty Images
While Donald Trump’s plans to speak at a major Bitcoin conference this weekend have crypto investors hoping for details about a Republican administration’s policy agenda, make no mistake: For the former president, this is all about campaign donations.
Trump on Saturday is scheduled to give a keynote address at the Bitcoin 2024 conference in Nashville, Tenn. Some Bitcoin investors think Trump will use the platform to make a major announcement, such as to throw his support behind having the U.S. government buy Bitcoin as a “strategic reserve” asset, akin to foreign currencies, or oil.
Such a move would likely require legislation, meaning it has almost no chance of happening soon. But Trump nodding to that or any other pro-crypto agenda could certainly help prices
$BNB $BTC At the BitcoinBitcoin -0.3% Conference this week, former President Trump delivered a keynote address meant to win over the increasingly important bloc of voters concerned about bitcoin. These voters see bitcoin as a means to advancing the cause of liberty in the U.S., and worldwide. They see bitcoin as a key component of the coming period of re-industrialization, where bitcoin mining is combined with an energy production renaissance and parabolic demand for AI computation.
$BTC Former United States President Donald Trump went all in on Bitcoin in his latest keynote at the Bitcoin 2024 conference in Nashville, promising voters to make the United States “the crypto capital of the world.”
He will do so by creating a national Bitcoin BTCUSD “stockpile” and, in turn, making the cryptocurrency a “permanent national asset.”
Naturally, Trump’s electoral promises have triggered bullish responses from top crypto analysts, with some predicting BTC’s price will grow tenfold in the future.
Bitcoin price will likely cross over $800K — Analyst
One of the boldest and most bullish outlooks for Bitcoin after Trump’s speech comes from independent market analyst Daan de Rover.
The chartist, who goes by the moniker “Crypto Rover” on X, expects BTC’s price to cross $800,000 if the former US president is elected once again in November, particularly since Trump also stated that Bitcoin may overtake gold’s market capitalization in the future.
“If this would happen, BTC would be valued at $813,054,” Rover said in a tweet on July 28.

Cointelegraph
Republican Senator Cynthia Lummis of Wyoming adds to the bullish outlook. She presented a legislative proposal to establish an official US strategic reserve of 1 million BTC over the next five years, amounting to almost 5% of the total BTC supply of 21 million tokens. Lummis said:
“[Bitcoin] will be held for a minimum of 20 years and can be used for one purpose: Reduce our debt.”

Cointelegraph
The US government already holds 210,000 BTC worth over $14.26 billion. Trump has promised to allocate those holdings to the US Treasury and said that, if elected, his government will never dump them.
Bitcoin price will reach $100K — Analyst
Bitcoin sold off following Trump’s speech and has since stabilized around the $67,500–68,000 range. But that has not refrained some analysts, such as Daan Crypto Traders and Tanaka, from making upside predictions toward $100,000.
/ Cointelegraph How high can BTC price go after Trump’s bullish Bitcoin speech? Jul 28, 202422:06 GMT+6
BTCUSD +4.42%
BTCUSDT +4.31% Former United States President Donald Trump went all in on Bitcoin in his latest keynote at the Bitcoin 2024 conference in Nashville, promising voters to make the United States “the crypto capital of the world.”
He will do so by creating a national Bitcoin BTCUSD “stockpile” and, in turn, making the cryptocurrency a “permanent national asset.”
Naturally, Trump’s electoral promises have triggered bullish responses from top crypto analysts, with some predicting BTC’s price will grow tenfold in the future. One of the boldest and most bullish outlooks for Bitcoin after Trump’s speech comes from independent market analyst Daan de Rover.
The chartist, who goes by the moniker “Crypto Rover” on X, expects BTC’s price to cross $800,000 if the former US president is elected once again in November, particularly since Trump also stated that Bitcoin may overtake gold’s market capitalization in the future.
“If this would happen, BTC would be valued at $813,054,” Rover said in a tweet on July 28.
$BTC Former president Donald Trump reiterated his position that he hopes to make the U.S. “the world capital for crypto and bitcoin” in a speech on his economic policy on Thursday, although he didn’t offer any further details, nor did he even mention crypto again in his hourlong remarks.
“Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and bitcoin,” Trump said in his speech at the Economic Club of New York. He prefaced those comments by saying that he would cut regulations broadly across several industries, pledging to cut 10 regulations for every one new regulation he enacts.
Ron Hammond, Director of Government Regulations at the Blockchain Association, a trade group, said he was encouraged that Trump mentioned crypto at all in his speech.
“Crypto even getting a small shoutout shows that it’s relevant,” Hammond said. “Even if it’s not a top 5 or top 10 issue, it’s arguably a top 20 issue.”
Hammond added that he didn’t expect the Trump campaign to issue any other specific policy recommendations on crypto before the election, unless they were in response to new Congressional activity or SEC actions.
Moe Vela, a senior advisor to Unicoin and a former advisor to Joe Biden when Biden was Vice President, said he also doesn’t expect to see any more specific policies from Trump before the election. But Vela said Trump’s vague and blustery comments are dangerous for the industry. “We already see what no regulation results in,” Vela said. “We have people [from the crypto industry] in prison because of it.”
Rather than discussing crypto, Trump instead focused on international economic competition, particularly with China; border security and the impact of illegal immigration on American jobs; and the importance of energy independence. Though Trump did not connect energy independence explicitly to crypto, he asserted that strong energy policies were critical for advancing American innovation, especially AI.
$BTC Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions.Bitcoin was introduced to the public in 2009 by an anonymous developer or group of developers using the name Satoshi Nakamoto. It has since become the most well-known and largest cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies.
$BTC The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin. 1 BTC = $95,287.87
The return may increase or decrease as a result of currency fluctuations. Actual execution price may vary. One of the easiest ways to cash out your cryptocurrency or Bitcoin is to use a centralized exchange such as Coinbase. Coinbase has an easy-to-use “buy/sell” button and you can choose which cryptocurrency you want to sell and the amount..