Bitrabo Editorial
Donald Trump, the former US President, is scheduled to appear as a keynote speaker at the Bitcoin 2024 Conference in Nashville from July 25-27. Speculation is rife that Trump could make a significant announcement related to Bitcoin during his speech, fueling excitement among crypto investors.
Potential Designation of Bitcoin as a Strategic Reserve Asset
Dennis Porter, the co-founder of Satoshi Act, shared that Donald Trump is planning to introduce Bitcoin as a strategic reserve asset for the US.
Porter expressed confidence in this claim, stating, “This is no joke. My sources are credible.” He emphasized that designating Bitcoin as a strategic reserve asset for the US Treasury is a logical decision.
…The paradigm will shift and the world will understand they must also have a Bitcoin position.
However, the report has not been officially confirmed by Donald Trump, his team, or other reliable sources. Until solid confirmation is provided, Porter’s assertions should be viewed as speculative and approached with caution.
Exploration of Strategic Reserve Opportunities by Leaders
Bitcoin-friendly political figures have been advocating for considering Bitcoin as a strategic reserve asset. Vivek Ramaswamy, a former presidential candidate, has been advising Trump on Bitcoin and digital assets since the start of the year.
Ramaswamy suggested backing the US dollar with a variety of commodities, including Bitcoin, to combat inflation and maintain the currency’s value.
Similarly, David Bailey, CEO of Bitcoin Magazine and a Trump campaign advisor, has been researching the potential implications of the US adopting Bitcoin as a strategic reserve asset.
Bailey envisions securing a substantial Bitcoin reserve for the US Treasury by timelocking the 210,000 BTC owned by the USA for a century.
Adding to the speculation on pro-Bitcoin measures, Trump recently announced that Senator JD Vance, a vocal supporter of cryptocurrencies, will be his vice-presidential candidate for the 2024 election.
As of the time of writing, the leading cryptocurrency was trading at $63,870.
Image credits: DALL-E (featured image), TradingView.com (chart)