Former President Donald Trump will headline the biggest Bitcoin conference of the year today, aiming to secure the votes and financial support of America's leading fintech enthusiasts in his 2024 presidential race.
Trump will give his speech today at 22:00 Türkiye time (UTC+3).
There are claims that Trump may declare Bitcoin as a reserve asset in this speech if he is elected President.
In addition to his speech, Trump will host a high-profile fundraiser in Nashville with ticket prices reaching as high as $844,600. BTC Inc. CEO and conference organizer David Bailey highlighted the Bitcoin industry's growing alignment with Trump's political platform, pledging in June to raise $100 million and mobilize more than 5 million voters for Trump's re-election campaign.
Trump's direct engagement with the Bitcoin community marks a significant shift in his approach to cryptocurrencies. Trump's campaign efforts include accepting donations in the form of virtual tokens, promising to end President Joe Biden's “war on crypto” and advocating for all future Bitcoin mining to be done in the United States. This stance is in stark contrast to his previous disdainful attitude towards Bitcoin.
Trump had publicly criticized Bitcoin during his presidency. In July 2019, he stated that he was “not a fan” of Bitcoin and other cryptocurrencies, arguing that their value “is not based on anything” and that unregulated crypto assets could facilitate illegal activities such as drug trafficking. In a 2021 interview with Fox, he called Bitcoin a “scam” and expressed his preference for the US dollar as the world's primary currency.
However, after a lost presidential election and significant lobbying from the crypto industry, Trump is now the keynote speaker at the Bitcoin 2024 conference in Nashville. This shift is in line with the Republican Party's broader strategy to reduce regulatory hurdles imposed by the Biden-Harris administration, positioning crypto regulation as a critical issue for voters amid ongoing inflation concerns.
*This is not investment advice.