Trump reportedly set for a $15 million fundraiser at the Bitcoin Conference

David Bailey, Bitcoin Magazine CEO, is reportedly planning to organize a fundraiser for Donald Trump’s presidential campaign during the Bitcoin 2024 Conference in Nashville. According to people in the know, Bailey pitched several crypto-related ideas to the Trump campaign team, including a $15 million fundraiser.

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Trump’s appearance at the Conference, which will be held between July 25 and 27, appears risky, especially after the recent failed attempt on his life. However, Bailey confirmed that the president remains committed to appearing in person, and the organizers are increasing security.

Trump’s campaign enjoys crypto donations 

Trump’s support for crypto has resulted in substantial earnings for his campaign, thanks to his decision to accept crypto donations. Following the announcement, the founders of the Gemini exchange, Cameron and Tyler Winklevoss, each donated $1 million in BTC to Trump’s campaign. Similarly, Kraken founder Jesse Powell made substantial Ethereum donations to the former President.

The Bitcoin Conference will give Trump access to the largest pro-crypto crowd leading up to the elections, as 20,000 attendees are expected. With many expecting that the presidential hopeful will go into more detail on his crypto-related policies at the event, the fundraiser could also be an avenue to gauge Trump’s popularity among pro-crypto voters.

Also Read: Donald Trump issues official statement on assassination attempt

In the past few months, the former president has become one of the most vocal supporters of the crypto industry. He has promised to ensure that the industry gets its desired regulatory clarity when he becomes president. However, skeptics believe his support for crypto is calculated to gain an edge over his opponent.

Meanwhile, the upcoming fundraiser is part of a growing trend of crypto donations to support pro-crypto candidates like Trump. Over the past month, crypto companies have donated to these candidates through PACs focused on voting out anti-crypto legislators in the next election. In May, the prominent super-PAC Fairshake received $160 million in donations from supporters, including Ripple, Coinbase, and a16z.

Crypto market reportedly revived by “Trump-pump” effects

Market analysts have directly linked Bitcoin’s recent gains to the “Trump Pump” effect. Blockchain analytical platform Santiment pointed out that there is currently a bullish sentiment surrounding Trump, which could continue for the rest of the year.

Santiment added, “Regardless of your political stance (or lack thereof), note how much these types of market reactions will continue on any notable US political news for at least the rest of 2024, especially in an always speculative-driven sector like cryptocurrency.”

This view was corroborated by crypto market maker QCP, which explained that the news about Trump served as a catalyst for the rally. The firm furthered that the market is already pricing in a Trump win at the impending November election.

Meanwhile, Trump’s odds of winning the US elections have continued to increase on the Ethereum-based prediction website Polymarket. The odds have reached 71%, showing that bettors expect him to clear the November polls. This follows his decision to pick Senator JD Vance, a strong crypto advocate, as his running mate.

The Republican Senator from Ohio is a Bitcoin holder with between $100,000 – $250,000 BTC held on Coinbase, according to his most recent financial disclosure. JD Vance has also been actively involved in pro-crypto policymaking in Congress, and his choice as the vice presidential candidate will likely attract more crypto voters to Trump’s side.