Trump Prepares for Bitcoin Event as Price Stands at $57,500

Bitcoin is currently trading at $57,500, showing a slight decline over the past 24 hours. Former U.S. President Donald Trump has been announced as a speaker at the Bitcoin 2024 conference in Nashville, Tennessee, one of the world’s largest Bitcoin events, taking place from July 25 to 27.

In recent months, the Republican presidential candidate has expressed strong support for the cryptocurrency and blockchain industry.

Last month, Trump stated at an event in Mar-a-Lago that he would endorse Bitcoin mining if he were to become president. In May, he began accepting political donations in cryptocurrency. His support has garnered backing from prominent figures in the crypto space, such as Gemini founders Cameron and Tyler Winklevoss, and Ark Invest CEO Cathie Wood.

Other U.S. politicians will also be speaking at Bitcoin 2024, including presidential candidate Robert F. Kennedy Jr., former presidential candidate Vivek Ramaswamy, and Republican Senators Bill Hagerty and Marsha Blackburn. Kennedy Jr. delivered a keynote speech at Bitcoin 2023, advocating for cryptocurrency and pledging to ensure that everyone’s right to hold and use Bitcoin remains “inviolable.”

Meanwhile, President Joe Biden’s campaign is reportedly reaching out to members of the cryptocurrency industry for guidance on digital asset policy but has yet to make any significant announcements regarding cryptocurrency or blockchain.

In a letter sent on Tuesday, the U.S. tech industry group Chamber of Progress urged Biden to support comprehensive cryptocurrency regulation, stating that Trump has taken advantage of the Biden administration’s lack of clarity.

Users on the decentralized prediction market Polymarket currently forecast a 63% chance of Trump winning the upcoming presidential election in November, compared to just 13% predicting a victory for Biden.