One of the most important points of focus in the US Presidential race has been the policy of both parties regarding Bitcoin and cryptocurrencies. The Trump administration has repeatedly vocalized its support for digital assets, and its supporters have enunciated the same.
This included Senator Bill Hagerty, who took to X (Twitter) today to address the upcoming Bitcoin 2024 conference. Touted to be the biggest crypto conference in the world, the event will be held in Nashville, Tennessee.
I’m thrilled to be in Nashville for @TheBitcoinConf and to welcome many influential speakers, friends and colleagues from Washington, and @realDonaldTrump to my home town. Looking forward to a great weekend! pic.twitter.com/FJZcCAqE7D
— Bill Hagerty (@BillHagertyTN) July 26, 2024
The Bitcoin Conference Effect
Being conducted in the state represented by Hagerty, the US Senator reiterated his support for crypto. He noted that Bitcoin and crypto were key issues in Washington, DC. Additionally, he also stated,
“I am continuing to fight to pass pro-Bitcoin and pro-crypto legislation that promotes the core principles of freedom, opportunity and limited governance.”
This statement comes after the Trump administration began accepting donations to their campaign in cryptocurrencies. Since enabling this option, the administration has raised more than $4 million in digital assets alone.
Earlier this week, Hagerty also stated that the Trump administration sees considerable potential in blockchain technology. He called crypto a defining challenge and said that the Biden administration has been “incredibly hostile” regarding this.
While the vocal support from the Trump administration has been strong, the crypto market has remained largely unbothered by these comments, struggling to close above $2.500 trillion. The past week’s drawdown resulted in the market losing nearly $203 billion.
Also Read: U.S. Candidate Robert F. Kennedy Jr.: “Most of My Wealth in Bitcoin”