The speech
Upcoming presidential election contender Donald Trump is all set to speak at Bitcoin 2024 in Nashville. Hosted by Bitcoin Magazine, this conference unites Bitcoiners from all around the world. It is scheduled to take place from July 25-27 this year. Trump will give a 30-minute speech at 2 p.m. CT on the last day of the conference.
An invite has reportedly been sent to Joe Biden as well, but the president has not yet confirmed his participation in the event.
The pro-crypto tribe in the US is rooting for Trump. Right from Gemini’s Winklevoss twins to Kraken’s Jesse Powell, several industry stalwarts have donated to Trump’s campaign.
The presidential contender, on his part, has assured that his government will stop crypto-centric companies from fleeing out of the country. Alongside, he is also looking to foster Bitcoin mining in the country.
The regulation
Trump has been critical of President Joe Biden for being ignorant towards crypto, and so have others. In a letter written this week, The Chamber of Progress urged Biden to support crypto regulations.
The group believes that the US president “can still win” the issue of crypto against Donald Trump.
Specifically, the letter underlined that Trump has capitalized on the Biden administration’s lack of clarity to reverse his position on crypto and portray Biden as an opponent of American technological leadership and economic progress.
The letter added,
“Although [Trump] has recently had a change of heart on cryptocurrency, you still have an opportunity to provide the regulatory clarity that voters are calling for.”
The poll
More than a thousand likely GOP voters were polled recently. The results pointed out that Trump's newfound crypto enthusiasm could aid him amass more votes.
The snapshot of Republican sentiment depicted that 13% of those who weren't planning on voting for him felt his crypto position made them see him in a more positive light.
The Paradigm-sponsored poll also underlined that 28% of the Republicans polled had fidgeted with crypto ownership.
According to Katie Biber and Alex Grieve, Paradigm's Chief Legal Officer, the company’s Government Affairs Lead,
"Republicans understand the appeal of crypto and support congressional action to establish clear and predictable rules.”
Meanwhile, 60% of those surveyed believe that Congress needs to come up with regulations for crypto businesses. In fact, they are not in favor of how the current financial system is functioning.
The bottom line
It is a known fact that the current administration has been hostile towards crypto. They’ve been treading on the ‘regulation by enforcement path.’
Several stalwarts from the space, including Messari’s Ryan Selkis and the O Show’s Wendy O, have contended that the crypto innovation will get choked completely if Biden is re-elected.
On one hand, Trump supporters have been capitalizing the most out of his pro-crypto stance, while on the other, Biden supporters understand the importance of crypto and the regulations underpinning it. They keenly waiting for him to make a few bold calls to garner support from the crypto community.
Perhaps only time will tell if Biden will re-mold his stance towards this fairly novel asset class, choose to foster innovation, and garner appeal amongst the masses or not.
Also Read: Biden’s Odds of Becoming President Again Drops to 9% on Polymarket
