Donald Trump to Address Bitcoin 2024 Conference in Nashville
Former President Donald Trump, now a Republican Presidential candidate, is set to address the Bitcoin 2024 conference in Nashville.
This appearance fails as a dramatic deviation from Trump’s earlier stance towards crypto assets, which he once called a scam. In recent times though, Trump has seemed to develop a positive attitude towards the digital asset industry by hosting miners of the asset class and allowing his campaign to take Bitcoin donations.
Trump has recently selected Senator JD Vance as his Vice Presidential choice, which would help him win the support of the crypto community. Vance has previously held quite positive opinions on cryptocurrencies, which is another feature making the campaign popular among crypto enthusiasts.
Trump’s speech at the conference is expected given the fact that a recent Gemini survey showed that most supporters of cryptocurrencies rely on the candidate’s position on crypto assets in their voting habits.
Trump’s speech which was earlier scheduled for 2:00 pm Central time has been rescheduled due to the arrival of ”A special guest” according to the news team of Bitcoin 2024. The event will be broadcast live through Bitcoin Magazine, ensuring that the crypto community is well-documented of this moment. Earlier in the 2020 Presidential campaign, Trump shared negative sentiments regarding crypto but his current actions indicate otherwise.
Robert F. Kennedy, Jr.’s Ambitious Bitcoin Plans
In contrast to changes in Trump’s opinions, Robert F. Kennedy, Jr. has shared clear and rather profound, long-term strategies for Bitcoin’s integration into the United States financial system if he were to be elected President of the United States of America.
During the Bitcoin 2024 conference, Kennedy offered several ideas for executive orders to ensure the leading role of Bitcoin in the American economy. He intends to order the Department of Justice and U. S. Marshals to release about 200,000 bitcoins held in the government’s possession to the U. S. Treasury during his Executive Day.
Previous proposals by Kennedy entail the U. S. Treasury to be allowed to buy up to 550 Bitcoins per day with the general goal of assembling a minimum stock of 4 million Bitcoins.
"I will sign another executive order directing the US Treasury to purchase 550 #Bitcoin daily until the US has built a reserve of at least 4 million Bitcoins." – @RobertKennedyJrpic.twitter.com/VZCKtSlNB7
— Michael Saylor(@saylor) July 26, 2024
This strategy seeks to establish the United States as a dominant force in the global Bitcoin market, similar to its substantial gold reserves. Kennedy believes this policy will enhance the U.S.’s financial dominance and prevent other nations from surpassing its economic influence.
Further, Kennedy intends to issue an executive order for the IRS to release public suggestions to help in Bitcoin adoption. These regulations would make all the exchanges with Bitcoin and U. S. dollars non-taxable and non-reportable. In addition, he wants Bitcoin to be qualified for use in 1031 exchange into real estate, thus enabling more favorable and easier transactions of Bitcoin for the citizens of the United States.
Nevertheless, Trump has been quite critical of the particular type of digital assets in the past and his recent conduct indicates a change of stance on the industry. Talking to Bitcoin miners, choosing a cryptocurrency-supporting Vice Presidential candidate, accepting cryptocurrency donations, and launching NFTs show his attempts to win cryptocurrency users’ votes.
Now, as Trump prepares for his speech on Bitcoin 2024, his words will be followed keenly by all stakeholders within the market, including those who support Trump.
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