With his appearance at the Bitcoin 2024 Conference nearing, industry experts are predicting that Donald Trump will announce a plan for Bitcoin as a US reserve asset. Indeed, both Satoshi Action Fund co-founder Dennis Porter and BnkToTheFuture founder Simon Dixon have rumored the announcement is coming.
Such an unveiling would certainly be massive for crypto and BTC. Throughout his reelection campaign, Trump has expressed his advocacy for cryptocurrencies. Speaking to Bloomberg, he noted that the asset class is “not going away.” Moreover, he said that the US must become a global crypto leader.
Also Read: Donald Trump: ‘Fight’ Cryptocurrency Turns $5,000 Into $7 Million
Trump to Unveil BTC Reserve Asset Plan at Bitcoin 2024 Conference?
The crypto market has never been more prevalent in politics. The 45th President of the United States, Donald Trump, has certainly leaned into that. He has embraced the asset class, and become a candidate advocating for its growth in the country. That could reach new heights next week.
Donald Trump has been predicted by insiders to announce a plan for Bitcoin as a US reserve asset. In a post to X (formerly Twitter), Simon Dixon shared the rumors that he had been hearing leading up to the Bitcoin Conference 2024.
“Getting more [and] more confirmations that these rumors maybe true,” Dixon shared. “Trump to announce a USA Bitcoin strategic reserve in Nashville,” he added. Although there has been no official confirmation, Dixon isn’t the only one sharing the rumors.
Also Read: Donald Trump Considers JPMorgan’s Jamie Dimon as Treasury Secretary
In his own post, Dennis Porter discussed the prospect of BTC as a reserve asset. Porter called the move a “decision win for America and for Bitcoin,” while discussing how the process would work, and why it would be so beneficial.
Porter discussed Bitcoin’s value as a “Exchange Stabilization Fund (ESF),” at the US Treasury. “The ESF provides the Treasury with a tool to engage in currency and gold operations to influence the exchange rate and promote stability in the foreign exchange markets.” With BTC being viewed as a foreign exchange, Porter noted this could stabilize the dollar, and influence the value of Bitcoin as a reserve currency.
