Trump Raised Between $30 and $50 Million at Bitcoin Conference 2024

According to sources close to Donald Trump‘s team, the campaign funds have surged significantly in recent hours. Donations from the crypto community have skyrocketed due to the Republican candidate’s participation in the Bitcoin Conference 2024.

As reported by Fox Business journalist Eleanor Terret, between $30 and $50 million flowed into Trump’s fund. This fund aims to reach $100 million by November this year, just in time for the elections. This means the expectation could be comfortably surpassed if the financier continues to support the sector.

This Saturday, Trump delivered his anticipated speech at the event held in Nashville. During his address, the conservative politician reaffirmed his belief in the future of BTC and made grand promises to the crypto community. He also emphasized that his administration would prioritize the development of technologies like blockchain and AI.

Although his proposals are less defined than those of his rival Robert F. Kennedy Jr., they are substantial compared to the legacy of the current administration. Trump warned that a victory for Kamala Harris would mean the continuation of the war against cryptocurrencies.

Bitcoin Conference 2024 Consolidates Crypto Vote for Trump

If there were any doubts regarding the sentiment of the crypto vote, they were dispelled at the Bitcoin Conference 2024. Trump’s words and campaign promises convinced any remaining undecided voters.

Paradoxically, during the financier’s speech, the broader cryptocurrency market reacted contrary to expectations. Speculation took center stage with the classic “sell the news” effect. Notably, in the early hours of the day, BTC saw a significant rise in anticipation of Trump’s presentation.

At the time of writing, the price of Bitcoin is above $68,000. This represents a +0.29% gain in 24 hours. A similar trend is observed in other altcoins.

Meanwhile, the MAGA token, representing Trump’s candidacy in the memecoins field, also saw movements. During and after the financier’s speech, the token plummeted dramatically. In a 24-hour period, the token shows a negative performance of -12.87%, bringing its price down to $5.89 per token.

As can be seen, Trump’s words brought a somewhat puzzling reaction. However, one should not assume a bearish trend for cryptocurrency prices will ensue.