Former US President Donald Trump has confirmed that he will attend the Bitcoin 2024 conference in Nashville, according to official sources. Following the Republican Party's support for Bitcoin, market expectations are high that Trump will bring a surprise to crypto investors in his speech at the conference.
The Bitcoin Conference's official Twitter account confirmed that Trump will speak at this year's Bitcoin conference. Later, renowned crypto media such as Bitcoin Magazine and Coindesk followed up on the news. #IndustryEvent#
(Source: Twitter)
According to a spokesperson for the conference who spoke to CoinDesk, Trump will deliver a 30-minute speech on the final day of the conference, which will take place from July 25 to 27.
Since openly supporting the crypto industry at a non-fungible token (NFT) event this spring, Trump has taken a keen interest in Bitcoin and cryptocurrencies. He has since incorporated pro-Bitcoin policies into the Republican Party's core platform, in stark contrast to the Biden administration. #USPresidentialElection#
"Trump's upcoming speech may further enhance his image as a supporter of cryptocurrencies, despite his initial scepticism towards them in his first year in office," the article continued.
The Republican National Convention’s platform committee passed and released a draft of the party's 2024 policy statement, which revolves around Trump's "Make America Great Again" (MAGA) campaign slogan, arousing heated debate in the cryptocurrency community.
In the third chapter of "Making America's Economy Great Again," innovation, along with cryptos, AI, and space, is one of three major industries being supported. This indicates that Trump and the Republican Party are shifting their attitudes towards cryptocurrencies in their latest policy directions, placing greater emphasis on them.
The platform's policy priorities include opposing the establishment of a central bank digital currency; Republicans will end the illegal and un-American oppression by Democrats of cryptos; they will defend the right to mine Bitcoin; ensure that every American has the right to self-custody their Bitcoin digital assets; and ensure that Americans' digital asset transactions are not under government scrutiny or control.
The Street reported that the political landscape of cryptocurrencies is undergoing a massive transformation, and Trump's participation in the Bitcoin conference is a breakthrough development. Scott Melker, host of The Wolf of All Streets podcast, suggested that this may be a fundraising event or keynote speech. Given Trump's previous criticisms, his stance on Bitcoin has received attention from voters in light of his change in position.
Trump was initially dismissive of Bitcoin, advocating the supremacy of the US dollar. However, his attitude towards cryptocurrencies has taken a 180-degree turn in recent times. He not only emphasized support for people's self-custody of digital assets, but also actively promotes the mining and business of Bitcoin in the US, achieving "Made in America."
Melker pointed out that Trump's transformation reflects a broader trend within the Republican Party. The party now includes Bitcoin in its platform, which could have a significant impact on single-issue voters who are crypto enthusiasts.
Yahoo Finance reported that this has a huge impact on President Biden's election campaign.
Melker questioned how the Biden administration will respond to Trump positioning himself as the "cryptocurrency president," and observed that the Biden administration has softened its stance on cryptocurrencies, possibly in response to this new dynamic. Previously, attention to anti-crypto sentiment and enforcement actions had decreased.
In addition, Melker highlighted the Democratic Party's roundtable on cryptocurrency policy, jointly hosted by Congressman Ro Khanna, aimed at informing and potentially changing the Biden administration's stance on cryptos. This demonstrates an awareness of the growing importance of crypto voters.
Trump's embrace of Bitcoin and the wider cryptocurrency market may change the game in a significant way. It is not just about attending a conference - it is a signal of a major policy shift that may attract more attention from crypto voters. This development puts pressure on the Biden administration to re-evaluate its stance and possibly adopt a more crypto-friendly approach.