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Bitcoin 2024 Conference: Trump, RFK Jr, and the Cult of Bitcoin
2024-07-31 19:55:08
Politics
Finance

Bitcoin 2024 Conference: Trump, RFK Jr, and the Cult of Bitcoin

Image used under license from Shutterstock.com (JON CHERRY)

The Bitcoin 2024 conference held in Nashville became a circus-like event, with thousands of attendees, including former President Donald Trump and RFK Jr. The conference marked a shift in bitcoiners' previously apolitical stance, as they now align themselves with Trump and view themselves as under attack by elites.

Trump's speech emphasized his support for bitcoin and promised to fire Gary Gensler, the chair of the Securities and Exchange Commission. While critics argue that bitcoin is volatile and used for criminal activities, bitcoiners see it as a way to liberate people from centralized government power and wealth inequality.

The conference also highlighted the political power plays surrounding bitcoin, with rumors of Elon Musk attending and Edward Snowden warning against trusting vote-seeking politicians. Overall, the conference showcased the excitement and confidence of bitcoiners, who see themselves as preparing for a war and believe they will emerge victorious.

Related news on that topic:

Trump's Potential Endorsement of Bitcoin as Strategic Reserve ... Asset

Speculation arises as Trump's Bitcoin Conference keynote hints at endorsing bitcoin for U.S. strategic reserve, with experts predicting global adoption and price surge. U.S. Senator Lummis proposes funding a Strategic Bitcoin Reserve by revaluing Fed's gold, supported by former President Trump's endorsement. A Bitcoin Purchase Program, overseen by Treasury secretary, aims to acquire 1 million BTC over 5 years, stored in secure decentralized facilities. The proposal highlights bitcoin's political significance for the 2024 election and potential government efforts to utilize cryptocurrency assets strategically.

Could Trump’s potential reelection drive bitcoin to new highs?

Influential figures like Mark Cuban and Larry Fink show growing support for bitcoin. A potential Trump reelection could have a profound impact, with predictions of bitcoin reaching over $100,000 by 2024. Broader macroeconomic factors, including global uncertainty and the U.S. dollar's decline, are driving bitcoin's future value. Criticism of Gary Gensler's handling of crypto regulation and speculation of a more crypto-friendly administration under Trump could further fuel a bitcoin bull market. Excitement among investors for tokenization, stablecoins, and decentralized finance innovations could also contribute to a significant bitcoin bull market. Experts from Market Rebellion and Altcoin Daily, as well as host Rob Nelson, discuss these factors. Factors impacting demand include ETFs, advisors, and sovereign wealth funds. Diversifying with crypto assets is important, as bitcoin has a proven track record of appreciation. Bitcoin's recent price surge, up 25% in the past few weeks, is attributed to increased buyer interest and narrative catalysts, including support from prominent figures like Larry Fink and Trump's VP pick, as well as the anticipated ethereum ETFs and potential rate cuts. Michael Saylor predicts $3-49M bitcoin by 2045, citing fiat devaluation and 40% USD printed in 4 years. Crypto traders bet millions on 2024 US election on Polymarket: $43M on Trump, $25M on Harris, $22M on Michelle Obama. Trump promised a U.S. Strategic Bitcoin Reserve, never selling $14B in seized bitcoin. Caitlin Long, Founder of Custodia Bank, discussed how a pro-bitcoin president could address regulators' resistance, noting Custodia's denied Fed master account due to lack of understanding. Trump and RFK Jr. proposed initiatives to integrate bitcoin, contrasting with the Bank for International Settlements' allowance for banks to hold bitcoin, which U.S. regulators have not matched, influenced by figures like Elizabeth Warren.

Read 2 more recent news on this topic

The press radar on this topic:

The Street
31. Juli 2024 um 18:46

Brandon Green emphasizes safety at Bitcoin Nashville after attempted Trump assassination

Politics
The Bitcoin Conference in Nashville is hosting two out of three major presidential candidates, including former President Trump, who will make his first public appearance since a recent assassination attempt at the Republican National Convention in Milwaukee. Security is a top priority, with Brandon Green ensuring a safe event for the expected 20,000 attendees. Speakers include presidential candidates Robert Kennedy Jr. and Vivek Ramaswamy, as well as Tennessee state senators Bill Hagerty and..
The Street
5. August 2024 um 10:45

Rumors swirl that Elon Musk may attend Bitcoin 2024 conference alongside Trump

Cryptocurrencies & blockchain
Technology
Economy
Politics
Elon Musk hints at Bitcoin 2024 conference attendance with laser eyes on X. BTC Inc. CEO David Bailey teases Musk's potential appearance at the Nashville event. Musk faced legal action over alleged Dogecoin market manipulation, which he denied. Trump to speak at the conference, sparking speculation about Musk joining him on stage.
The Street
6. August 2024 um 21:45

Will Trump endorse bitcoin as strategic reserve asset?

Politics
Finance
Trump's Bitcoin Conference keynote sparks speculation of endorsing bitcoin as strategic reserve, leveraging U.S. holdings. Experts Tung, Melker predict global adoption, central bank shifts, and price surge. Rumors of SEC Chair resignation raise pro-crypto successor prospect, while potential Fink Treasury appointment could cement admin support. Melker notes bitcoin's growing political significance for 2024 election.
The Street
20. August 2024 um 21:03

RFK Jr at Bitcoin Conference: "The capacity to print unlimited federal currency is a formula for the destruction of our country"

Politics
Finance
Economy
At the Bitcoin Conference in Miami 2023, Kennedy described bitcoin as a "major innovation machine" and defended the crypto industry against accusations of environmental harm caused by mining activities.
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