US could incorporate Bitcoin as a reserve asset if Trump is elected president in 2025
3 min readBitcoin has made a surprise big entrance, as a topic in the 2024 US presidential election. This has been thanks to its equally surprising new best supporter, Donald Trump.
Trump, who remains ahead in most polls against Democratic candidates, has boosted the price of the Bitcoin market. Even the network hash rate over the past month is of strategic importance to the United States.
At any other time in the past ten years, it would have been unthinkable for a US presidential candidate from a traditional party to make cryptocurrencies a major campaign issue. But cryptocurrencies and presidential elections are no longer what they used to be.
Donald Trump, who has declared himself the “crypto candidate,” will speak at the Bitcoin Conference in Nashville, Tennessee, tomorrow, July 25.
This would be the first time a presidential candidate has attended the conference, the world’s largest annual celebration of Bitcoin. This has sparked a great deal of debateover whether Trump will receive the support of the crypto community and what kind of announcements await us during the day tomorrow.
Trump to speak at Nashville Bitcoin Conference
Donald Trump has on his electoral agenda to speak at the opening of the Bitcoin Conference in Nashville, Tennessee. This will be tomorrow, July 25th.
The Bitcoin conference has become a political playing field. In addition to Trump, independent presidential candidate Robert F. Kennedy Jr. will also speak about cryptocurrencies during the conference.
Trump has expressed his intention to support the rights of cryptocurrency holders and has referred to the voting power of the 50 million BTC holders in the United States.
He will be speaking on the main stage at the Bitcoin Conference 2024 in Nashville, and as part of that event, he will be hosting a 844,600 USD -a-seat fundraising dinner. Particularly eager holders will be able to take a selfie with Trump in person for 60,000 USD (or 100,000 USD for couples).
The event will also feature participation from vice presidential candidate JD Vance, a big cryptocurrency enthusiast, as well as popular political figures Vivek Ramaswamy and Tulsi Gabbard.
Other notable names attending the conference include cryptocurrency advocates Cathie Wood of ARK Investment , Michael Saylor of MicroStrategy, and whistleblower Edward Snowden.
Elon Musk speaks out about Trump
Elon Musk is hard to categorize. This applies to his business decisions, but also to his political views.
This multi-faceted man with a fortune of 245 billion dollars is often described as a libertarian. But this label falls short.
Over the years, Musk has seen a steady shift in political thinking, from an Obama voter to a major Trump supporter . He is helping fund Trump’s campaign with $45 million a month until Election Day, November 5.
According to The Wall Street Journal, Musk confirmed the fundraising efforts in an interview but denied the rumored amount.
In March of this year, Musk said he would not donate to any presidential candidate. After the assassination attempt on Trump, he did a complete U-turn. Just thirty minutes after the attack, Musk declared himself a Trump voter on his X profile: “I fully support Trump and look forward to his speedy recovery.”
Cryptocurrency analyst and podcaster Scott Melker posted on his X profile about it: “Musk changes his profile picture to laser eyes. Are you ready?”
Musk’s stance is certainly clear, and a surprise appearance at the Nashville Bitcoin Conference is more than likely expected.
Analysts think Trump could add Bitcoin to his reserves
Many cryptocurrency analysts and experts are giving their opinion regarding the possibility of Donald Trump incorporating Bitcoin, the famous “ digital gold ” as a reserve asset.
As stated by Marcus Thielen: “There is speculation that Trump could announce the establishment of a strategic BTC reserve in the United States during the Bitcoin 2024 conference in Nashville.” He also highlighted that the price of Bitcoin skyrocketed by almost 1,900% during Trump’s first term.
Lark Davis commented: “Donald Trump may already be thinking about adding Bitcoin to the US balance sheet.”
Simon Dixon has also spoken out on his X profile: “We are receiving more and more confirmations that these rumors may be true”
