Bitcoin Conference 2024: Donald Trump Raises $25M, Cynthia Lummis Advocates For Bitcoin Reserve

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.

Former US President Donald Trump attended the 2024 Bitcoin Conference in Nashville, Tennessee, where his campaign reportedly raised $25 million at a private fundraising event.

According to BTC Inc. CEO David Bailey, who organized the conference, the event saw an influx of donations from individuals who were largely new to the Republican Party or politics in general. Bailey attributed this development to the impact of Trump's involvement in the crypto industry.

Senator Bill Hagerty played a key role in organizing the event for Trump's political donations. As Trump's ambassador to Japan during his first term, Hagerty reportedly 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.”

Senators Marsha Blackburn and Cynthia Lummis were also among the notable attendees at the fundraiser. Lummis announced her intention to create a strategic Bitcoin reserve, with a proposal to be introduced as legislation in the coming days. The plan would involve the US government purchasing one million BTC over five years, constituting roughly 5% of the total Bitcoin supply.

“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,” Lummis stated.

Former Trump rival Vivek Ramaswamy, who has advised the ex-president to adopt BTC as a strategic reserve asset for the US, was also present at the fundraiser, according to the report.

Senior Trump campaign adviser Brian Hughes highlighted 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.

“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,” Hughes stated. “President Trump is prepared to remove the burdens, and the tech sector is excited by his vision and the agenda to fulfill it.”

At press time, the largest cryptocurrency by market capitalization is trading at $65,980, down over 2% over the past 24 hours.

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