Former US President Donald Trump set to make highly anticipated appearance as keynote speaker at upcoming Bitcoin 2024 Conference in Nashville, scheduled for July 25-27. This has created a buzz of excitement among cryptocurrency investors as rumors suggest that Trump might make a major announcement during his speech.
Will Bitcoin Become a Strategic Reserve Asset for the United States?
According to Dennis Porter, co-founder of the non-profit organization Satoshi Act, Donald Trump for to unveil BTC as a strategic reserve asset for the United States.
Convinced of this fact, Porter said: “This is not a joke. My sources are credible.” Porter added that Bitcoin as a strategic reserve asset for the US Treasury was “a no-brainer.”
…The paradigm will change and the world will understand that it must also have a Bitcoinn position.
However, this information has not yet been confirmed by Donald Trump, his team or any other external source. Therefore, and until such confirmation is provided, Porter’s statements should be taken with a grain of salt and considered as speculation.
Leaders explore strategic reserve possibilities
As reported According to Bitcoinist, Bitcoin-friendly political leaders have long advocated for Bitcoin to be considered a strategic reserve asset. One of them, former presidential candidate Vivek Ramaswamy, has been advising Trump on Bitcoin and digital assets since January.
Ramaswamy proposed backing the US dollar with a basket of commodities, including Bitcoin, to combat inflation and maintain the currency’s value over time.
On the other hand, David Bailey, CEO of Bitcoin Magazine and Trump campaign advisor, has explored the theoretical impacts of the adoption of BTC by the United States as a strategic reserve asset.
Bailey’s vision is to secure a significant supply of BTC for the US Treasury by time-locking the 210,000 BTC held by the United States for 100 years.
Adding to the speculation around increased pro-Bitcoin and crypto measures, Donald Trump recently announcement that Senator JD Vance, a staunch supporter of cryptocurrencies, will join his ticket as vice presidential candidate for the 2024 election.
At the time of writing, the largest cryptocurrency on the market was trading at $63,870.
Featured image of DALL-E, chart from TradingView.com
