Trump’s presence and speech at the Bitcoin 2024 conference have reshaped how many people view Bitcoin and the crypto industry.
Following former President Donald Trump’s speech in the bitcoin 2024 conference, tech billionaire and crypto proponent Elon Musk has expressed optimism and belief in Bitcoin. Trump was the key speaker on Saturday, and he spoke extensively on bitcoin adoption as the best way to reshape the American economy. He shed more green light on bitcoin, changing the minds of those skeptical about bitcoin and cryptocurrencies.
Elon Musk Sees Merit in Bitcoin
Musk, who has previously shown more interest in Dogecoin than other cryptocurrencies, surprised many with his newfound appreciation for Bitcoin, as he revealed on Sunday.
Although he wasn’t present at the Bitcoin 2024 conference, he seized an opportunity to express optimism about Bitcoin while addressing his listeners on the X takeover podcast held on Sunday. He was interviewed for an hour to express his thoughts on modern technology, the advancement of X, and its value to society.
Concluding the interview, Musk was asked about how he currently sees Bitcoin. He replied, “I’m not going to be promoting crypto—at most, in a joking way. If you see me pumping crypto, it’s not me,” he added. I do think there’s some merit in Bitcoin and maybe some other cryptos, and I’ve sort of got a soft spot for Dogecoin because I like dogs and memes.”
Concerning how people spread rumors of Musk and his involvement with cryptocurrencies, he warned everyone to crosscheck sources of information before believing. He noted that some scammers uproot past videos. At the same time, some build fake impersonating videos and disseminate wrong details.
Trump to Create Bitcoin Reserve for the U.S.
Trump has expressed full support and confidence in Bitcoin and has gained the support of the U.S. crypto community. Additionally, he stated that if he wins the U.S. Presidential election in November, he will fire Gary Gensler, the Securities and Exchange (SEC) chairman, and create a “strategic bitcoin reserve” for the U.S. instead of selling its holdings as the present government is doing.