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.
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.
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.
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.
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