- July 25, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
Contrary to earlier speculation, Vice President Kamala Harris has declined to attend the much-anticipated Bitcoin 2024 conference in Nashville, shifting the spotlight to former President Donald Trump, whose highly anticipated speech could have a major impact on Bitcoin and the entire nascent industry.
Kamala Harris Opts Out Of Bitcoin Conference
Initially, discussions were indicating Harris’s possible participation at the conference, joining a lineup that already boasted figures like US presidential candidate Donald Trump and candidate Robert F. Kennedy Jr.
The news sparked discussions about the evolving political landscape, with speculations about the Democratic party’s stance on engaging with the rapidly growing voter block associated with cryptocurrencies.
David Bailey, CEO of Bitcoin Magazine and the conference organizer, had hinted at the potential addition of Harris to the speaker lineup in a social media post on Tuesday, suggesting it could strategically position her campaign within the evolving political landscape.
However, recent confirmations from Bailey have quashed these expectations, redirecting attention to Donald Trump’s upcoming address at the conference. Bailey stated in a recent social media post on X (Formerly Twitter):
Kamala Harris will not be speaking at the Bitcoin Conference. No surprise. What can she say to us when she’s actively imprisoning developers, forcing our industry overseas, attacking PoW… it would have been a disaster for her. All eyes on Trump now.
Trump’s BTC Reserve Plan
As Bitcoinist reported, rumors have been circulating about Trump’s possible announcement at the upcoming conference regarding the consideration of Bitcoin as a strategic reserve asset for the US Treasury.
This speculation has significantly increased the anticipation surrounding his speech, with potentially positive implications not only for Bitcoin but also for the broader cryptocurrency industry should Trump secure a return to the Oval Office in 2025.
Recent statements from Dennis Porter, co-founder of the non-profit organization Satoshi Act, have added fuel to these speculations. Porter claimed that Trump intends to unveil Bitcoin as a strategic reserve asset for the United States, a move he considers a logical step supported by credible sources.
Nonetheless, despite the initial optimism surrounding Trump’s potential announcement, Polymarket bookmakers have indicated a shift in market sentiment.
The likelihood of Trump declaring Bitcoin as a US strategic reserve asset has decreased, with current betting odds suggesting a lower probability of such an announcement by July 28.
At the time of writing, the largest cryptocurrency on the market was trading at $66,300. This does not represent a significant change from Tuesday’s price value, as BTC has been consolidating around this zone for the past few days.
Featured image from DALL-E, chart from TradingView.com
