Crypto

Trump to Speak at Bitcoin 2024 Event, Signals Strong Crypto Support

Trump to Deliver Keynote at Bitcoin 2024, Poll Shows 13% GOP Voters More Favorable Due to Pro-Crypto Stance

By Bill Bullington

7/10, 21:18 EDT
Bitcoin / U.S. dollar
Bitcoin / US Dollar
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Key Takeaway

  • Donald Trump will speak at the Bitcoin 2024 event on July 27, signaling his growing support for cryptocurrency.
  • Trump has met with Bitcoin miners and emphasized the importance of US-based Bitcoin mining against central bank digital currencies.
  • The crypto sector is backing pro-digital asset candidates through donations to political action committees amid regulatory pressures.

Trump to Speak at Bitcoin Conference

Former President Donald Trump is set to deliver a keynote speech at the Bitcoin 2024 event in Nashville, Tennessee, on July 27. The announcement, made by the event organizers, underscores Trump's increasing alignment with the cryptocurrency sector. His speech, scheduled for 2 p.m. CT on the final day of the conference, is expected to last 30 minutes. This appearance follows a series of pro-Bitcoin statements and actions by Trump, including a recent meeting with Bitcoin miners and a post on his Truth Social account advocating for Bitcoin mining as a defense against central bank digital currencies (CBDCs). Trump’s participation in the conference is seen as a significant endorsement of the crypto industry, especially given his previous skepticism during his first administration.

Polls Show Crypto Could Boost Trump

A recent poll sponsored by crypto investment firm Paradigm indicates that Trump's newfound support for cryptocurrency could win him additional votes among Republicans. Conducted by Echelon Insights, the poll surveyed over a thousand likely GOP voters in mid-June. It revealed that 13% of respondents who were initially reluctant to vote for Trump now view him more favorably due to his pro-crypto stance. The poll also highlighted that 60% of Republicans believe Congress should establish clear regulations for crypto businesses, reflecting a general dissatisfaction with the current financial system. Katie Biber, Paradigm's chief legal officer, and Alex Grieve, the company's government affairs lead, noted that "Republicans understand the appeal of crypto and support congressional action to establish clear and predictable rules."

Republican Sentiment on Crypto

The poll further revealed that more than one in four Republicans (28%) have engaged in crypto ownership, with this demographic skewing younger, male, and non-white. A significant majority (94%) of respondents believe their personal financial records should remain private. Among those familiar with CBDCs, 68% opposed their implementation in the U.S. Opinions were more divided on whether the U.S. government should facilitate private sector competition with China's digital yuan, with 40% in favor and 31% against. The poll also showed a slight edge for positive impressions of crypto (36%) over negative ones (30%), though the 3.5% margin of error suggests some uncertainty.

Management Quotes

  • Donald Trump, Former President of the United States:

    "Bitcoin mining may be our last line of defense against a CBDC... I want all remaining Bitcoin to be MADE IN THE USA!!!"