This past weekend, the much-anticipated 2024 Bitcoin Conference took place in Nashville, Tennessee, and it turned out to be a huge success for former President Donald Trump’s aspirations for possible re-election in the upcoming November elections.
According to recent reports, Trump’s campaign raised a substantial $25 million in a single night at a private fundraising event held on the sidelines of the broader conference.
Trump’s Speech Electrifies Conference Attendees
David Bailey, the CEO of BTC Inc. and the organizer of the 2024 Bitcoin Conference, confirmed the $25 million fundraising total to Breitbart News in an exclusive interview. Bailey also explained that the influx of donations, many from individuals new to the Republican Party or politics in general, underscores the impact of Trump’s involvement in the crypto industry.
Key to the fundraiser’s success was the involvement of Republican Senator Bill Hagerty, who reportedly played a pivotal role in organizing the event for Trump’s political donations. According to Breitbart News, Hagerty, formerly Trump’s ambassador to Japan during the ex-president’s initial term in office, actively engaged with donors in the lead-up to the fundraiser, encouraging their participation and contributions to the Trump campaign.
“President Trump’s speech was one of the most articulate and strongest articulations of Bitcoin and crypto that I’ve ever heard from a political leader,” Hagerty told Breitbart News. “The energy throughout the conference was electric as a result.”
Lummis Advocates For Bitcoin Reserve
Notable attendees at the fundraiser included Senators Hagerty, Marsha Blackburn, and Cynthia Lummis, who announced her willingness to create a strategic Bitcoin reserve. According to Lummis’ proposal, which will be introduced as legislation in the next few days, the US government will purchase one million BTC over a five-year period, representing approximately 5% of the total Bitcoin supply.
Lummis said:
Establishing a strategic Bitcoin reserve would firmly secure the dollar’s position as the world’s reserve currency into the 21st century and ensure we remain the world leader in financial innovation
Former Trump rival Vivek Ramaswamy, who has also advised the former president to adopt BTC as a strategic reserve asset for the US, was also spotted at the fundraiser, according to the report.
Senior Trump campaign adviser Brian Hughes emphasized Trump’s commitment to supporting the technology sector and removing obstacles that hinder progress and growth, contrasting this with perceived challenges posed by the current Biden administration.
Hughes stated:
Crypto innovators and others in the technology sector are under attack from Kamala Harris and the Democrats who’ve placed obstacles and unnecessary burdens in the way of our nation’s next generation of industry leaders. President Trump is prepared to remove the burdens, and the tech sector is excited by his vision and the agenda to fulfill it.
At the time of writing, the largest cryptocurrency on the market is trading at $65,980, down over 2% in the 24-hour time frame.
Featured image from DALL-E, chart from TradingView.com