Trump Backers Seek to Raise $15M at Bitcoin Conference in Nashville

Bitcoin Magazine CEO is committed to driving a multimillion-dollar fundraiser for Trump.
The CEO reportedly made the promise at a past meeting with Trump and his campaign team.
Some observers are questioning Trump’s sudden soft spot for crypto.

Bitcoin Magazine CEO David Bailey has reportedly promised to drive a multimillion-dollar fundraiser for Donald Trump at the Bitcoin Conference in Nashville later this month.

Reports of Donald Trump’s Bitcoin conference participation first emerged in June and were confirmed by DailyCoin last week. Bailey recently said that the presidential hopeful was in “good spirits and excited” to speak at the conference after surviving an assassination attempt on Saturday.

$15m Fundraise for Trump

The Washington Post reported on July 15 that Bailey committed to helping Trump raise $15 million from donors during the Nashville Bitcoin Conference, scheduled for July 25 through July 27.

The report, citing people familiar with the matter, said Bailey sold the fundraiser idea to Trump senior adviser Vince Haley over a dinner “last month,” during which the crypto entrepreneur also pitched several digital asset ideas.

Trump’s presence at the conference is noteworthy given his previous skepticism towards Bitcoin and other cryptos. During his last term in office, Trump said the idea of crypto was a “scam” and a “disaster waiting to happen.”

But even with the about-face, observers suggest that Donald Trump’s friendly Bitcoin stance is driven by the upcoming elections.

Courting Crypto for Votes or Policy Change?

The report, quoting his advisers, stated that Trump knew “very little” about crypto until the donors approached him. Two donors who had conversations with the presidential hopeful acknowledged that he “didn’t seem to know the intricacies of cryptocurrency” despite pledging support for the industry.

“A lot of crypto people are single-issue voters, have money and are looking for a candidate to support. He and his team recognize all of the above and are capitalizing on it,” Trump donor and cryptocurrency executive Kyle Samani stated.

Biographer Tim O’Brien said that Donald Trump’s Bitcoin and crypto shift isn’t out of the ordinary, as the former president has “always been opportunistic about policy.”

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