Over the weekend, the highly awaited 2024 Bitcoin Conference successfully took place in Nashville, Tennessee, proving beneficial for former President Donald Trump and his potential re-election campaign in November.
Recent reports have disclosed that Trump’s campaign accumulated an impressive $25 million in donations in just one evening during a private fundraising event that coincided with the larger conference.
Trump’s Speech Energizes Conference Attendees
David Bailey, CEO of BTC Inc. and the organizer of the conference, confirmed the fundraising total in an interview with Breitbart News. Bailey highlighted that the donations, many from new Republican Party affiliates, reflect Trump’s significant influence in the cryptocurrency sector.
A pivotal figure in the success of the fundraiser was Republican Senator Bill Hagerty, who played a key role in orchestrating the event for Trump’s campaign. Hagerty, a former ambassador to Japan during Trump’s presidency, actively engaged with donors leading up to the fundraiser, encouraging their involvement and contributions.
Hagerty expressed his admiration for Trump’s speech, emphasizing its strong support for Bitcoin and cryptocurrencies, which added to the energetic atmosphere of the conference.
Lummis Advocates for Bitcoin Reserve
Among the distinguished guests at the fundraiser were Senators Hagerty, Marsha Blackburn, and Cynthia Lummis, who proposed establishing a strategic Bitcoin reserve. Lummis intends to introduce legislation in the coming days for the government to purchase one million BTC over five years, approximately 5% of the total Bitcoin supply.
Lummis believes this move will solidify the dollar as the world’s reserve currency, ensuring continued financial leadership and innovation in the US.
Former Trump opponent Vivek Ramaswamy, who has recommended Bitcoin as a strategic reserve asset for the US, was also present at the fundraiser.
Trump campaign adviser Brian Hughes reiterated Trump’s commitment to advancing the technology sector, contrasting it with perceived impediments under the current Biden administration that hinder progress and growth.
Hughes highlighted Trump’s agenda to support industry leaders and remove barriers inhibiting innovation in the tech sector.
As of now, the leading cryptocurrency is trading at $65,980, showing a decrease of over 2% in the past 24 hours.
Image source: DALL-E, chart from TradingView.com
