Former US President Donald Trump Plans to Attend Major Bitcoin Conference, Organizers Gear Up for $15M Fundraiser

Former U.S. President Donald Trump plans to attend a major Bitcoin conference, where organizers are reportedly gearing up for a $15 million fundraiser

Former U.S. President Donald Trump is set to attend a major Bitcoin conference, where organizers are reportedly planning a $15 million fundraiser to support his reelection campaign, according to a July 15 report by the Washington Post.

The event, to be hosted by Bitcoin Magazine CEO David Bailey, is expected to take place either during the Bitcoin Conference in Nashville or shortly after. The timing of the fundraiser will coincide with the Republican National Convention, where delegates are expected to nominate Trump as the party’s presidential candidate.

The event comes amid rising political tensions and violent rhetoric in the United States. On July 13, a 20-year-old registered Republican attempted to assassinate Trump at a rally in Pennsylvania.

Crypto Market Revived by “Trump Pump” Effect

During his presidency from 2017 to 2021, Trump criticized cryptocurrencies, calling them “not money” and “based on thin air.” He also referred to Bitcoin as a scam but changed his stance after announcing his reelection campaign in 2022. As a 2024 candidate, Trump said his campaign would accept crypto and proposed having all remaining Bitcoin mined in the U.S.

Market analysts have been attributing Bitcoin’s recent gains to the “Trump Pump” effect. Blockchain analytics platform Santiment observed a bullish sentiment around Trump, which is likely to continue impacting the market throughout the year.

“Regardless of your political stance, market reactions to notable U.S. political news will continue in the speculative-driven cryptocurrency sector,” noted Santiment.

Meanwhile, crypto market maker QCP also pointed to the news about Trump catalyzing the rally, adding that the market is already pricing in a potential Trump victory in the upcoming November election.

Crypto-Friendly Running Mate Boosts Election Odds

On the Ethereum-based prediction website Polymarket, Trump’s odds of winning the U.S. election have been rising. The odds reached as high as 71%, suggesting that bettors are expecting him to secure a victory in November. This rise comes as Trump decides on his running mate, with Senator JD Vance emerging as the favorite.

notable crypto supporter

Moreover, Trump’s Vice President pick, Senator JD Vance, is a known bitcoiner. According to his latest financial disclosure, Vance, a Republican Senator from Ohio, holds between $100,000 and $250,000 in Bitcoin on Coinbase. He has been actively involved in pro-crypto policymaking in Congress, and his selection as the vice presidential candidate is expected to attract more crypto voters to Trump’s campaign.

In conclusion, Donald Trump's involvement in the Bitcoin conference and his strategic selection of a crypto-friendly running mate highlight his campaign's evolving approach to digital assets. The upcoming fundraiser aims to rally support among crypto enthusiasts, reflecting the growing intersection of politics and cryptocurrency in the 2024 election.

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