Highlights:
- Donald Trump raised $25 million at the Bitcoin Conference 2024 for his re-election campaign.
- The crypto industry demonstrated strong support for Trump through significant fundraising and attendance.
- The Bitcoin Conference underscores crypto’s rising political influence and future impact.
According to Bitcoin Magazine CEO David Bailey, former US President and 2024 Republican presidential candidate Donald Trump raised $25 million at the Bitcoin Conference 2024 in Nashville. This substantial sum underscores his supporters’ deep pockets and enthusiasm within the cryptocurrency sector. The event was reportedly attended by 100 individuals and represented his second-highest fundraiser ever.
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Bailey said:
His second highest fundraiser ever across three different presidential campaigns. Came from a combo of industry and whales/OGs,”
Trump has successfully attracted cryptocurrency supporters and garnered backing from top industry figures by promising significant reform of the US regulatory environment. Over recent months, he has actively engaged with the industry and raised funds from its leading voices.
For those of you who didn’t hear it in Trump’s speech, DJT raised $25m in Nashville. His second highest fundraiser ever across three different presidential campaigns. Came from a combo of industry and whales/OGs.
Warren and her goons talked Dems into committing mass seppuku.
— David Bailey🇵🇷 $0.65mm/btc is the floor (@DavidFBailey) July 30, 2024
The entry fee for a private roundtable with Trump was a staggering $844,600, payable in crypto, roughly equivalent to 13.20 Bitcoin. Additionally, photo opportunities with Trump were priced at $60,000 per person or $100,000 per couple, significantly increasing the fundraiser’s total proceeds.
In addition to the millions raised at the Nashville event, the campaign had secured $4 million in cryptocurrency since May. Notably, over $2.15 million of this came from just 19 donors. In 2022, Trump reported personally owning between $100,000 and $250,000 in cryptocurrency. According to a Federal Election Commission filing, His campaign has raised $221 million and currently holds $128 million in cash.
Trump Aims to Make US Bitcoin Superpower and Vows to Fire SEC Chair
At the Bitcoin 2024 conference, Trump announced his plan to replace SEC Chair Gary Gensler if elected. He criticized the SEC for targeting Bitcoin, highlighting its financial freedom from government overreach. Trump pledged to end the “anti-crypto crusade” and stop the “persecution and weaponization” against digital assets. Trump also expressed his intention to appoint an SEC Chairman who supports innovation and America’s future in the crypto space. He stated, “I’d appoint a new SEC Chairman who believes in building America and not blocking the future.”
Trump said at the Bitcoin Conference that if elected in November, he would fire Gary Gensler, prevent the U.S. from selling its Bitcoin holdings, and build a strategic Bitcoin reserve. Trump also praised the development of stablecoins and support for the Bitcoin mining industry…
— Wu Blockchain (@WuBlockchain) July 27, 2024
Trump aims to make the United States the “crypto capital of the planet” and a “Bitcoin superpower.” He declared, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA. Crypto is going to the moon. I want America to lead the way.” He also predicted that Bitcoin could surpass silver and gold in the market cap.
Bitcoin Conference Highlights Crypto’s Growing Political Influence
The funds raised at the Bitcoin Conference show the growing influence of the crypto industry in politics. Trump’s success in securing large contributions highlights his alignment with cryptocurrency enthusiasts, which is crucial for gaining support and favorable regulations.
Fox Business journalist Eleanor Terrett noted that the event’s success hints at greater financial gains ahead. It served as both a fundraiser and a networking hub for key figures in crypto and politics. This mix of interests could shape future political strategies and campaign funding. In addition to Trump’s support, Senator Cynthia Lummis also introduced new legislation proposing a Bitcoin strategic reserve for the U.S., totaling at least 1 million BTC, or 5% of the total supply.
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