Barron's Take

Trump Plans a Speech to Bitcoin Faithful. Big-Money Donors Are the Target.

Some investors think Trump will use the platform to make a major announcement, such as to throw his support behind having the U.S. buy Bitcoin as a “strategic reserve” asset,









By

Joe Light

July 26, 2024 3:00 am ET



Donald Trump.

Brandon Bell/Getty Images

While Donald Trump’s plans to speak at a major Bitcoin conference this weekend have crypto investors hoping for details about a Republican administration’s policy agenda, make no mistake: For the former president, this is all about campaign donations.

Trump on Saturday is scheduled to give a keynote address at the Bitcoin 2024 conference in Nashville, Tenn. Some Bitcoin investors think Trump will use the platform to make a major announcement, such as to throw his support behind having the U.S. government buy Bitcoin as a “strategic reserve” asset, akin to foreign currencies, or oil.

Such a move would likely require legislation, meaning it has almost no chance of happening soon. But Trump nodding to that or any other pro-crypto agenda could certainly help prices