Former President Donald Trump is expected to deliver a highly anticipated keynote address at the Bitcoin 2024 Conference in Nashville. Crypto enthusiasts are abuzz with rumors that Trump might announce Bitcoin as a strategic reserve asset for the US economy.
Dennis Porter, co-founder of the nonprofit Satoshi Act, claimed that Trump plans to make this significant announcement, citing credible sources. Porter believes it is a “no brainer” for the US Treasury to adopt Bitcoin as a strategic reserve asset. However, this claim has not been confirmed by Trump or his associates.
Supporters of Bitcoin have long argued for its classification as a strategic reserve asset. Since January, former presidential candidate Vivek Ramaswamy has been advising Trump on Bitcoin and other digital assets. Ramaswamy suggested backing the US dollar with a basket of commodities, including Bitcoin, to combat inflation and maintain its value.
David Bailey, CEO of Bitcoin Magazine and a consultant to Trump’s team, has explored the potential impact of using Bitcoin as a strategic reserve asset. Bailey envisions time-locking 210,000 Bitcoin held by the US for a century to secure a substantial reserve for the Treasury.
Adding to the speculation, Trump has hinted that Senator JD Vance, a strong cryptocurrency advocate, might be his running mate in the 2024 election, suggesting a potential shift towards more pro-Bitcoin policies.
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