Donald Trump Meme Coin Soars 500,000x as Former President Joins Bitcoin 2024 Conference
beincrypto.com 11 July 2024 04:21, UTC The organizer of The Bitcoin Conference just announced that former US President Donald Trump will be one of the speakers at the event.
This event, set to take place from July 25 to 27 in Nashville, Tennessee, is one of the largest gatherings of Bitcoin enthusiasts and industry leaders globally. This announcement has sparked remarkable enthusiasm among the crypto community.
Trump’s Crypto Campaign Gains Momentum Amidst Political Rivals
According to the event organizers, the presumptive Republican presidential nominee will address the audience on July 27. In addition to Trump, other US politicians, including presidential candidate Robert F. Kennedy Jr. and former presidential candidate Vivek Ramaswamy, will share their insights at the event.
This news has significantly impacted Trump-related meme coins, with the newly minted TrumpCoin (DJT) skyrocketing by nearly 50,000,000% in less than three hours, pushing its market capitalization to $143.1 million. Similarly, another meme coin, Satoshi Trump (MBGA), saw a dramatic increase of over 7,900%, reaching a market cap of $2.8 million.
Trump’s increasing involvement in the Bitcoin community has been noteworthy. Last month, he met with prominent Bitcoin miners. Following the meeting, he emphasized the importance of Bitcoin mining in the US on his Truth Social platform.
“We want all the remaining Bitcoin to be made in the USA. It will help us be energy-dominant,” Trump wrote.
However, Trump’s position has sparked debate within the industry. Some industry figures argue that concentrating Bitcoin mining within US borders could undermine its decentralized nature. It also could increase Bitcoin’s vulnerability to jurisdictional risks and potential attacks.
Trump has also embraced crypto in his other political activities. BeInCrypto reported that in May, he began accepting political donations in cryptocurrencies. Trump’s efforts have earned support from notable figures in the crypto industry, including Cameron and Tyler Winklevoss, founders of Gemini.
The former president’s crypto-friendly stance appears to resonate with his supporters. According to a forecast by the prediction market Polymarket, Trump has a 62% chance of winning the presidential election in November. This figure starkly contrasts with Biden, who only has a 12% chance.
