TLDR Donald Trump will speak at the Bitcoin Conference in Nashville on July 27th. There are rumors that he will announce his plan to make Bitcoin a strategic reserve. While this remains to be seen, it is clear that Bitcoin and crypto are firmly on the election agenda. Trump has moved from anti-crypto to pro-crypto in less than 5 years. And while there is no doubt pragmatism involved, there are reasons why crypto values align with the values of the Republican Party.
Who could have envisioned this only a few years ago: a presidential candidate who has his own NFT collection, with a running mate who owns BTC (JD Vance)? Even Kamala Harris is rumored to take the stage at the Bitcoin Conference, no doubt trying to repair some of the reputational damage the Biden administration inflicted on the US crypto industry. Independent candidate Robert F. Kennedy Jr. was already set to speak.
A short timeline of Trump’s Changing Attitude Towards Crypto
It hasn’t always been like this. As a boomer and the MAGA guy, and someone who has built his wealth collaborating with the traditional financial system, it was to be expected that Donald Trump would lean pro-US dollar and anti-crypto.
But his stance has softened and in his current campaign, he has flipped pro-crypto. Lobbying efforts and financial contributions from the crypto industry have contributed to this.
- In 2019, during his term as president, Trump was skeptical about Bitcoin and cryptocurrencies, mocking their value and highlighting their relatedness to illegal activity. “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
- February 2021: Trump softened his stance somewhat, acknowledging that Bitcoin is gaining popularity but maintained a cautious tone. “Bitcoin is a scam, but it’s an interesting scam.”
- October 2021: Trump’s view was more positive. While indicating that he is not directly involved in it, he sees its appeal and the reasons for its popularity. “I think Bitcoin is here to stay. It’s just another form of currency, and it’s going to be more and more popular.”
- 2022: Trump maintained that crypto must be regulated properly. “Bitcoin is here to stay, but it needs to be regulated. There are too many scams and frauds.”
- December 2022: Donald Trump announced the launch of his own NFT collection, called Trump Digital Trading Cards. Even in the bear market they sold well, and two collections have been launched.
- April 2023: Trump continues to show support for cryptocurrencies, particularly Bitcoin, recognizing their growing role in the financial system. “Bitcoin has proven to be a valuable asset and a hedge against inflation. It’s something that people are using more and more, and I see it as a legitimate part of the financial landscape.”
- July 2023: Trump speaks positively about the innovations in the crypto space and their potential to transform financial systems. “Cryptocurrencies are driving innovation in finance. They have the potential to make transactions faster and more secure.”
- January 2024: Trump expresses strong support for Bitcoin and blockchain technology, endorsing them as part of a broader economic strategy. “We need to embrace Bitcoin and blockchain technology as part of our economic growth strategy. These technologies are shaping the future of…
Erik started as a freelance writer around the time Satoshi was brewing on the whitepaper.
As a crypto investor, he is class of 2020. More of a holder than a trader, but never shy to experiment with new protocols.
