Trump reportedly raises more than $20 million at The Bitcoin Conference

Last week, Trump became the first major party candidate to speak at the Bitcoin Conference in Nashville, joining RFK, who first spoke at the conference in Miami last year and is returning as a speaker in 2024.

Trump announced in May that his campaign would begin accepting crypto donations, raising $4 million through digital assets, a small percentage of the $200 million he has raised in total.

Following his speech, Trump held a fundraiser where he reportedly raised $21 million. He sold out seats to a private meeting for $800,000 per person. His speech represented a shift from his previous stances on crypto. He promised not to sell any of the US’s bitcoin reserves under his administration. Bitcoiners and crypto enthusiasts are also encouraged by the fact that his vice presidential pick, JD Vance, has publicly stated that he owns at least $100,000 worth of bitcoin in 2022.

Trump isn’t the only presidential candidate embracing bitcoin and other cryptocurrencies. Ahead of the Bitcoin Conference, reports emerged that Kamala Harris was also interested in speaking at the event, while campaign aides and senior Democrats reportedly met with industry leaders to reestablish the relationship between the Democratic party and the industry.

Democrats remain divided on the issue. Senator Elizabeth Warren, a longtime critic of cryptocurrencies and their use in illegal activities, criticized a recent bill that would eliminate much of the SEC’s guidance on cryptocurrencies. The 32 Democrats voted to send the bill to Biden’s desk, along with Republicans who made supporting crypto an official part of their party platform earlier this year.

This is the first time Congress has voted on a standalone crypto bill, allowing lawmakers to formally weigh in for or against the space. Given the opposition from many Democrats, industry leaders remain skeptical of Harris’ ability to sway opinion in favor of crypto.