Trump Keynotes Bitcoin 2024 as Crypto Campaign Heats Up

• Crypto has emerged as a key issue in the presidential campaign.
• A stark divergence exists between both parties on digital assets.
• Trump aims to woo crypto voters with Bitcoin 2024 keynote.

The Bitcoin Conference is a major event in the cryptocurrency world, renowned for featuring prominent figures and making significant industry announcements. This year’s conference in Tennessee is no exception, with former president and current presidential hopeful Donald Trump set to be the keynote speaker.

Cryptocurrency has become a political issue following Trump’s endorsement of Bitcoin in his presidential campaign, contrasting sharply with the current administration’s stance, marked by the “War on Crypto” under Joe Biden’s watch.

Trump Courts Bitcoin Enthusiasts

To win over Bitcoin investors frustrated with the current administration’s crypto stance, Trump is set to bolster his self-styled image as “the crypto president” at Bitcoin 2024. 

According to a press release shared with DailyCoin, Trump will take the main stage at 2:00 PM on July 27, becoming the first major U.S. politician to speak at the Bitcoin Conference.

Throughout his campaign, Trump has made several promises to the crypto community, including commitments to create a Bitcoin-friendly regulatory environment and support for domestic mining if re-elected in November.

David Bailey, CEO of Bitcoin Magazine and Trump’s digital asset policy advisor, also revealed that Trump is exploring how Bitcoin could be used to address the $35 trillion national debt.

Trump’s pro-crypto stance has garnered substantial support within the industry, including from Jesse Powell, founder of Kraken, who has thrown his weight behind Trump’s campaign with a $1 million Ethereum donation.

In a tweet, Powell criticized the current administration’s approach to crypto regulation, stating, “For too long, the crypto industry has been under attack by Elizabeth Warren, Gary Gensler, and others.” He emphasized the need for clear rules and expressed concern over unchecked regulation by enforcement.

War on Crypto?

Many in the crypto community share Powell’s frustrations with the Biden administration’s approach to digital assets. While the White House has downplayed claims of a “War on Crypto,” the administration has nonetheless overseen a series of actions that have adversely affected the industry.

The most noticeable sign of the War on Crypto has been the wave of regulatory lawsuits stemming from ambiguous rules that regulators refuse to clarify. Additionally, there have been reports of crypto firms being de-banked, effectively shutting them out of the financial system.

Biden’s recent veto of the SAB121 repeal was the latest point of contention. This SEC guidance, which limits banks from custodying crypto assets, was overturned by the House of Representatives in May. However, Biden’s office intervened to keep the rule in place, further straining relations with the crypto community.

The House was scheduled to vote on overriding the veto on July 10, but a scheduling oversight has delayed the vote until Thursday.

Fox Business reported that Biden’s veto is likely to stand, as the measure is not expected to secure the necessary two-thirds majority in the House to override it.

On the Flipside

• Trump‘s positive view of digital assets is a recent development.
• According to the Bitcoin Conference, there are an estimated 50 million BTC investors, many of whom identify as single-issue voters.
• With approximately 160 million registered U.S. voters, Bitcoiners make up less than a third of the electorate.
• Trump is the odds-on favorite to win the presidential race at 4/7.

Why This Matters

Trump’s keynote at Bitcoin 2024 represents a pivotal moment in cryptocurrency’s political journey. As the lines between technology, finance, and politics blur, the upcoming election may influence the industry’s trajectory for years to come.

Solana ETF approval is likely contingent on Trump coming into power:
How Solana’s ETF Fate Hinges on Trump and Biden

Worldcoin aims to expand its ecosystem, raising concerns about market saturation:
Worldcoin Opens Worldchain to Devs: An Example of Chain Overload?