Donald Trump Meme Coin Rises 500,000x Before Bitcoin Incident
The organizer of the Bitcoin conference has announced that former US President Donald Trump will be one of the speakers at the event.
Taking place from July 25 to 27 in Nashville, Tennessee, the event is the largest gathering of Bitcoin enthusiasts and industry leaders worldwide. This announcement has sparked incredible excitement among the crypto community.
Trump's crypto campaign has gained momentum among political rivals
According to the organizers of the event, the presumptive Republican presidential nominee will address the audience on July 27. In addition to Trump, other US politicians will share their insights, including presidential candidate Robert F. Kennedy Jr. and former presidential candidate Vivek Ramaswamy. event.
The news had a huge impact on Trump-related meme coins, with newly minted TrumpCoin (DJT) surging nearly 50,000,000% in less than three hours, pushing its market capitalization to $143.1 million. At the same time, another meme coin, Satoshi Trump (MBGA), has increased dramatically by more than 7,900%, reaching a market value of $2.8 million.
Read more: 7 Hot Meme Coins and Altcoins Trending in 2024
Trump's increasing involvement in the Bitcoin community is noteworthy. Last month he met with famous Bitcoin miners. After the meeting, he emphasized the importance of Bitcoin mining in the US on his True Social platform.
“We want the rest of Bitcoin to work in the USA. “It will help us become more powerful,” Trump wrote.
However, Trump's position has sparked debate in the industry. Some industry figures argue that concentrating Bitcoin mining within US borders could undermine its decentralized nature. It can also increase Bitcoin's vulnerability to judicial threats and potential attacks.
Trump has embraced crypto in his other political activities. BeinCrypto reported that it began accepting political donations in cryptocurrencies in May. Trump's efforts have received support from prominent figures in the crypto industry.
“Trump's participation in the world's largest bitcoin conference at BTC Nashville is a positive development for the entire crypto ecosystem. Uncertainty surrounding US regulations and a lack of clear direction from the SEC have hampered growth in one of the largest markets. The global adoption of Bitcoin is increasing, and it is very promising that a US presidential candidate will speak at a crypto conference for the first time,” said Tristan Dickinson, CMO at exSat, to BeInCrypto.
Read more: How Blockchain Could Be Used for Voting in 2024?
The former president's crypto-friendly stance seems to resonate with his supporters. According to prediction market Polymarket, Trump has a 62% chance of winning the November presidential election. This figure contrasts sharply with Biden, who has only a 12% chance.
Disclaimer
Adhering to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news report aims to provide accurate and up-to-date information. However, readers are advised to independently verify facts and consult with professionals before making any decisions based on this content. Please note that our terms and conditions, privacy policies and disclaimers have been updated.
