NAIROBI (CoinChapter.com)—On July 10, organizers of the Bitcoin 2024 conference confirmed that former US President Donald Trump will attend the event later this month. Trump will address the crypto community and potentially announce plans for future crypto adoption.
Donald Trump – A Champion of Crypto Industries?
Over the last few months, Trump has positioned himself as the champion of the crypto industry. During a San Francisco fundraiser in June, Trump criticized the Democrats for imposing regulatory burdens on the crypto industry.
He also stated that he would support the Bitcoin mining industry and wants all future Bitcoins to be “MADE IN USA.”
With the Biden administration being uncertain about crypto regulations and supporting anti-crypto bills like the SAB 121, the crypto industry is also looking for a strong alternative in Trump. The Bitcoin Conference 2024 organizers noted that Trump expressed his support for the US Bitcoin industry in May 2024, advocating financial freedom and the sector’s global growth.
Vote-Driven Strategy or Genuine Effort?
Trump’s outreach to the crypto industry has garnered attention from industry veterans. While some top industry players are optimistic about the future of crypto with Trump as President, others believe his appearance at the Bitcoin 2024 Conference is just an election gimmick.
CryptoQuant CEO Ki Young Ju questioned Trump’s intentions, asking if his actions represent a genuine effort to make the United States a Bitcoin nation or a strategy to garner votes.
Independent crypto analyst Willy Woo replied that Trump’s address might be primarily vote-driven, noting the increasing number of Bitcoin holders compared to dog owners in the United States.
Toby Cunningham, host of the Crypto Tips podcast, criticized the decision to invite politicians to a Bitcoin conference, lamenting that the community has forgotten Bitcoin’s aim to render politicians and central banks obsolete.
In the 2020 elections, Trump secured 60.66% of the vote in Tennessee, while President Joe Biden received 37.45%. Trump’s upcoming speech at the Bitcoin Conference aims to send a strong message to his opposition and the crypto industry.
Trump’s U-Turn on Bitcoin
Long ago, Trump had stated he was “not a fan of Bitcoin,” calling it “volatile” and linked to “illegal activities.” However, his campaign now promotes a positive view of cryptocurrencies. Trump announced his campaign would accept donations in Bitcoin, Ether (ETH), and other digital assets.
Following Trump’s declaration, Kraken co-founder Jesse Powell donated $1 million, mostly in Ethereum (ETH), to Trump’s campaign.
Additionally, the Winklevoss twins’ exchange, Gemini, donated $2 million in Bitcoin (BTC) to support Trump. Moreover, Tyler Winklevoss criticized the Biden administration for waging a “war against crypto.”
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