- Trump aims for a $100 million target by November, bolstered by his pro-Bitcoin stance and industry support.
- Keynote speakers at the conference include Robert F. Kennedy Jr., Cathie Wood, and Edward Snowden, among others.
Former U.S. President Donald Trump is witnessing a significant inflow of support from the cryptocurrency community. At the Bitcoin Conference 2024, it was reported that Trump’s re-election campaign fundraising efforts have accumulated between $30 million to $50 million. The campaign has set an ambitious target of $100 million, expected to be reached by November this year.
According to Fox Business reporter Eleanor Terrett, sources at the conference indicated the current fundraising figures. Trump’s favorable stance towards Bitcoin has a crucial part in attracting this level of support.
🚨SCOOP: Sources inside the fundraiser tell me that they don’t have legal approval to release a number today but that the goal is to raise $100 million by November and the amount raised from the @TheBitcoinConf “has gone a long way towards that.” Attendees are making guesses of… https://t.co/bEGHFQ4Zg7
— Eleanor Terrett (@EleanorTerrett) July 27, 2024
Competing against other candidates like Robert F. Kennedy Jr., who is also a Bitcoin supporter, Trump is reportedly the preferred choice among major donors within the cryptocurrency sector.
Anticipation is high as Trump is scheduled to speak tonight at the conference, an event that the crypto industry is watching closely. The success of his speech could potentially increase contributions significantly, possibly even reaching the $100 million mark.
The Bitcoin Conference, besides featuring Trump, includes other notable speakers such as independent presidential candidate Robert F. Kennedy Jr., Cathie Wood of ARK Investment, Michael Saylor of MicroStrategy, Edward Snowden, and Benjamin Cowen. This lineup underscores the conference’s importance as a hub for influential discussions on cryptocurrency.
Donald Trump Pledges Major Shifts in Crypto Regulation if Elected
During the Bitcoin Conference 2024, Donald Trump, the former U.S. President, announced a significant policy decision that he would dismiss SEC Chair Gary Gensler on his first day back in office, if re-elected. This move is part of a broader strategy to foster a more cryptocurrency-friendly regulatory environment in the United States.
JUST IN: Crowd goes absolutely nuts after Donald Trump vows to fire SEC Chairman Gary Gensler during the Bitcoin Conference in Nashville, Tennessee.
Trump was clearly taken aback at the crowd's reaction when he made the announcement.
"On day one, I will fire Gary Gensler and… pic.twitter.com/0CyOMaY6FY
— Collin Rugg (@CollinRugg) July 27, 2024
Trump’s announcement, which outlined his intention to transform the U.S. into a “Bitcoin superpower” was met with enthusiasm from many attendees at the conference. His commitment to reshaping crypto regulations signals a clear pivot towards a more supportive stance on digital currencies.
In his speech, Trump criticized the current administration’s approach to Bitcoin and other cryptocurrencies, which he characterized as overly restrictive and detrimental to financial innovation.
He expressed his desire to put an end to what he termed the “anti-crypto crusade” highlighting his view that the current regulatory measures amount to “persecution and weaponization” against digital assets.
Trump stated:
“The day I take office, the anti-crypto crusade, persecution, and weaponization will stop.”
He underscored his plan by confirming his decision to replace Gary Gensler with a new SEC Chair who would be more aligned with his vision for America’s digital asset future.
Furthermore, Trump took a moment to critique Vice President Kamala Harris’s purported support for Gensler as a potential Treasury Secretary, labeling her views on crypto regulation as obstructive. He described Harris as a “low IQ individual” who stands against the innovation that cryptocurrencies bring to the financial sector.
Concurrently, the market has responded positively to the events of the conference. Since its commencement on July 25, Bitcoin has seen a price increase, maintaining a positive trajectory throughout the event.
At the time of reporting, Bitcoin’s price is $68,713.41, marking a 1.75% increase over the past 24 hours. Other cryptocurrencies like Ethereum, Solana, Dogecoin, and XRP have also experienced slight gains.
With Trump’s speech expected later today, the cryptocurrency community is hopeful that this momentum will continue, potentially boosting both the fundraising efforts and the broader market.
