Trump took a complete U-turn on the topic of Bitcoin.
Former President of the United States Donald Trump is set to join the 2024 Bitcoin Conference, confirmed the organizers of the event during late Wednesday hours. The event will be held later in July, and Trump is set to address the attendants, possibly unveiling plans surrounding crypto policies and the regulatory framework.
As per a report from Bloomberg, the presumptive Republican candidate for the 2024 elections will be attending the conference on July 27 and is scheduled to give a speech in Nashville, Tennessee, as well. Historically, Tennessee has been an important state for the Republican Party because the state has voted in favor of the party for at least two decades.
During the 2020 presidential elections, Trump secured 60.66% of the vote, while current President Joe Biden got 37.45% of the vote in the state. It is clear that the billionaire seeks to send a strong message to his opposition and the crypto industry via his speech in late July at the Bitcoin Conference.
“Trump announced his support for the American Bitcoin industry in May 2024, advocating for financial freedom and the growth of the US Bitcoin industry on the global stage,” said the organizers of the Bitcoin Conference 2024.
It is important to note that Trump took a complete U-turn on the topic of Bitcoin. In a post on social media platform X (previously known as Twitter), the billionaire stated that he is “not a fan of Bitcoin and other Cryptocurrencies,” adding that “their value is highly volatile and based on thin air.” He associated digital assets with “unlawful behavior, including drug trade and other illegal activity.”
However, Trump’s campaign has recently promoted his positive stance on cryptocurrencies and Bitcoin. The former US president stated that his campaign would accept donations in digital assets, including Bitcoin, Ether (ETH), and other currencies. After the billionaire’s declaration of support for crypto, Kraken co-founder Jesse Powell donated $1 million, mostly in Ethereum (ETH), to Trump’s campaign.
Additionally, leading crypto exchange Gemini, founded by the Winklevoss twins, also donated a total of $2 million in Bitcoin (BTC) to the Republican candidate’s campaign. Tyler Winklevoss condemned the Biden administration for waging a war against crypto, adding that “there is nothing the Biden administration can do or say at this point” that would suggest that the administration hasn’t been abusing its power.
Trump Meme Coins Surge
Trump-related meme coins witnessed a remarkable surge in the past 24 hours, despite the broader market downturn. TRUMP (MAGA) surged 8.75%, Pepe (TRUMP) rose 137.65%, and FreeTrump (TRUMP) surged 3.58%.
Additionally, the shares of Bitcoin mining companies also rose recently after Trump organized a meeting with them to discuss their issues at his Mar-a-Lago estate. During the meeting, the presidential candidate said that “Bitcoin mining may be our last line of defense against a CBDC”, adding that “Biden’s hatred of Bitcoin only helps China, Russia, and the Radical Communist Left.”
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