Trump to Announce a USA #Bitcoin Strategic Reserve in Nashville – Sources

The US election time is bringing surprises daily for Crypto folks. The Bitcoin 2024 Conference in Nashville is just around the corner and rumors

The US election season is heating up and crypto enthusiasts are keeping a close eye on the developments. Ahead of the Bitcoin 2024 Conference in Nashville, rumors have surfaced suggesting that former US President Donald Trump might announce Bitcoin as a strategic reserve asset for the United States.

The speculation began with Dennis Porter, co-founder of the Satoshi Act and CEO of the Satoshi Action Fund. According to Porter's sources, Trump's upcoming speech will reveal that Bitcoin is set to become a strategic reserve asset for the US Treasury.

"This is no joke. My sources are credible,” Porter said.

The implications of such an announcement would be immense, signaling to the world that Bitcoin is now a mainstream asset.

The claims have sparked excitement within the crypto community, with some speculating that the US Treasury might even begin accumulating Bitcoin. The move would be a significant endorsement of Bitcoin and could have a major impact on its price and adoption.

However, it's important to note that Trump's stance on cryptocurrencies has shifted over time and his administration did not take any concrete steps to integrate Bitcoin into the nation's strategic reserves.

The rumors gained further traction due to the involvement of several Bitcoin-friendly political figures. Former presidential candidate Vivek Ramaswamy has been advising Trump on Bitcoin and digital assets since January.

His proposal to back the US dollar with a basket of commodities, including Bitcoin, aims to combat inflation and maintain the currency's value.

Another key figure is David Bailey, CEO of Bitcoin Magazine and an advisor to the Trump campaign. Bailey envisions the US Treasury securing a massive Bitcoin reserve, potentially locking up 210,000 BTC for 100 years.

"This would be a game-changing move by the Trump administration and would put Bitcoin front and center in the fight against inflation and the preservation of American monetary sovereignty," Bailey said.

Adding to the intrigue, Trump recently announced that Senator JD Vance, a prominent crypto supporter, will be his vice presidential candidate for the 2024 election.

As the conference approaches, the crypto community is buzzing with anticipation, but also a fair bit of skepticism. Analyst Nick Ford painted an exciting picture: Trump, the ultimate showman, stepping up to the podium and announcing, “We're going to buy government Bitcoin. That's right.”

"If this happens, I wouldn't be surprised to see BTC prices shoot up by $80K in a single trading session," Ford said.

The rumors have certainly captured the attention of crypto enthusiasts and traders alike. While we must await official confirmation from Trump himself, the possibility of such an announcement is keeping everyone on tenterhooks.