Bitcoin Magazine CEO Plans $15M Fundraiser for Trump in Nashville: Washington Post

Last updated:

July 18, 2024, 05:35 EDT
| 2 min read

Bitcoin Magazine CEO David Bailey is reportedly organizing a fundraiser for former President Donald Trump’s reelection campaign, with a target of $15 million.

The fundraiser is scheduled to take place “later this month,” possibly during or immediately after the Bitcoin Conference in Nashville, the Washington Post reported, citing sources familiar with the matter.

The fundraising event is expected to coincide with the official nomination of Trump as the Republican Party’s presidential candidate at the Republican National Convention.

Trump to Attend Bitcoin Conference Despite Assassination Attempt

Trump remains committed to speak at the Bitcoin Conference in Nashville, Tennessee, after surviving an assassination attempt on July 13 during a rally in Pennsylvania.

In a recent post on X, Bailey confirmed Trump’s participation, assuring attendees that the former president is in good spirits.

I have just spoken with the President’s team. He is in good spirits and is excited to see you all in Nashville and deliver a speech that is heard around the world.
— David Bailey🇵🇷 $0.65mm/btc is the floor (@DavidFBailey) July 14, 2024

Notably, the former president has faced legal challenges, having been convicted of 34 felony counts for falsifying business records in May.

However, a recent opinion issued by a conservative-led Supreme Court could potentially challenge that conviction, with Trump’s sentencing set for September, just weeks before the US election.

Meanwhile, Trump has seen growing popularity among the crypto community comes as his stance on cryptocurrencies has changed radically as of late.

Despite previously criticizing Bitcoin as a “scam,” he has recently changed his tune.

On June 14, he declared that he would end the Biden administration’s “war on crypto” if elected president.

Trump had also previously criticized Biden for his harsh stance on cryptocurrencies, emphasizing that the United States should strive to be a leader in the crypto industry.

As reported, a survey conducted by the Harris Poll has revealed that one in three voters in the US consider a candidate’s position on cryptocurrencies before making their voting decision.

Another survey conducted by leading crypto venture capital firm Paradigm reveals that Trump’s poll numbers for the 2024 US Presidential Election enjoy significant support from the crypto community.

Prediction Traders Bet on Trump’s Victory

As of the latest data, prediction traders are favoring former President Donald Trump with a 69% chance of victory, followed by current President Joe Biden at 19%.

Vice President Kamala Harris stands at 6%, while former First Lady Michelle Obama trails with just 2% of the bets.

As reported, decentralized predictions platform Polymarket has registered record trade volumes fueled by the anticipation surrounding the United States presidential election.

In the first half of July alone, the platform recorded a staggering $116.4 million in volume, surpassing its previous highest month of $111.5 million in June.

The surge in trading activity can be directly attributed to speculators engaging in bets on the outcome of the upcoming election.

Political traders have collectively wagered an astounding $263.5 million on predicting the winning candidate for the US election scheduled for November 4.

Polymarket recently concluded a successful $70 million Series B funding round led by Peter Thiel’s Founder Fund, with participation from notable figures including Ethereum co-founder Vitalik Buterin.