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Bitcoin

Trump Could Announce Bitcoin As US Strategic Reserve Asset In Nashville July 27

Ronaldo Marquez
by Ronaldo Marquez
1 year ago
·
Posted in Breaking News Ticker
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Former US President Donald Trump is set to make a highly anticipated appearance as a keynote speaker at the upcoming Bitcoin 2024 Conference in Nashville, scheduled from July 25-27. This has created a buzz of excitement among crypto investors as rumors suggest that Trump may deliver a significant announcement during his speech.

Related Reading: Cardano Founder Challenges Buterin’s Views On Pro-Crypto Politicians

Bitcoin To Become Strategic Reserve Asset For The US?

According to Dennis Porter, co-founder of the non-profit organization Satoshi Act, Donald Trump intends to unveil BTC as a strategic reserve asset for the United States. 

Bitcoin
Dennis Porter’s announcement on Thursday. Source: Dennis Porter on X

Convinced of this fact, Porter claimed, “This is no joke. My sources are credible.” Porter added that Bitcoin as a strategic reserve asset for the US Treasury is a “no brainer.”

…The paradigm will shift and the world will understand they must also have a Bitcoin position.

However, this report is yet to be confirmed by Donald Trump, his staff, or any external sources. Therefore, and until such confirmation is presented, Porter’s claims must be taken with a grain of salt and considered speculation.

Leaders Explore Strategic Reserve Possibilities

As reported by Bitcoinist, Bitcoin-friendly political leaders have long advocated for considering BTC as a strategic reserve asset. One of them, Vivek Ramaswamy, a former presidential candidate, 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.

Related Reading: Crypto And Politics: Ethereum Founder Shares Thoughts On What’s Really Going On

On the other hand, David Bailey, CEO of Bitcoin Magazine and an advisor to the Trump campaign, has explored the theoretical impacts of the United States adopting BTC as a strategic reserve asset. 

Bailey’s vision involves securing a significant BTC  reserve for the US Treasury by timelocking the 210,000 BTC held by the USA for 100 years.

Adding to the speculation surrounding increased pro-Bitcoin and crypto measures, Donald Trump recently announced that Senator JD Vance, a notable proponent of cryptocurrencies, will join his ticket as the vice-presidential candidate for the 2024 election. 

Bitcoin
The daily chart shows BTC’s price uptrend recorded over the past week. Source: BTCUSD on TradingView.com

At the time of writing the largest cryptocurrency on the market was trading at $63,870. 

Featured image from DALL-E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ronaldo Marquez

Ronaldo Marquez

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Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

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