Donald Trump Will Raise $15M From A Bitcoin Conference
NAIROBI (CoinChapter.com) — Former U.S. President Donald Trump plans to attend a major Bitcoin conference, where organizers are reportedly gearing up for a $15 million fundraiser aimed at bolstering his reelection campaign. According to a July 15 report by the Washington Post, Bitcoin Magazine CEO David Bailey will host this high-profile event, likely taking place during the Bitcoin Conference in Nashville or shortly thereafter.
The fundraiser aligns with the Republican National Convention, where delegates are expected to nominate Donald Trump as the party’s presidential candidate. This event will follow a period marked by increasing political tension and violent rhetoric in the United States. On July 13, 20-year-old Thomas Matthew Crooks, a 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 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 linked Bitcoin’s recent gains to the “Trump Pump” effect. Blockchain analytics platform Santiment noted a bullish sentiment around Trump, likely to persist throughout the year. Moreover, Santiment commented,
“Regardless of your political stance, market reactions to notable U.S. political news will continue in the speculative-driven cryptocurrency sector.”
Similarly, the crypto market maker QCP echoed this view, suggesting that news about Trump catalyzed the rally. The firm indicated that the market is already pricing in a potential Trump victory in the upcoming November election.
Crypto-Friendly Running Mate Boosts Election Odds
Donald Trump’s odds of winning the U.S. election have increased on the Ethereum-based prediction website Polymarket. The odds have reached 71%, indicating that bettors expect him to secure a victory in November. This rise follows Trump’s decision to select Senator JD Vance, a prominent crypto advocate, as his running mate.
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 active in pro-crypto policymaking in Congress. Consequently, his selection as the vice presidential candidate will likely attract more crypto voters to Trump’s campaign.
In addition, Donald Trump’s involvement in the Bitcoin conference and his strategic selection of a crypto-friendly running mate underscore his campaign’s evolving approach to digital assets. The upcoming fundraiser aims to solidify support among crypto enthusiasts, reflecting the growing intersection of politics and cryptocurrency in the 2024 election.
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