John Carl,
Editor
July 26, 2024
This weekend is a pivotal moment for Bitcoin.
After years of aggressive policies from Biden-backed SEC appointee Gary Gensler, the industry is mounting a major push into the mainstream.
All eyes are on Bitcoin 2024, a major crypto conference in Nashville, Tennessee, which will be headlined by a keynote speech tomorrow at 2:00 pm by Donald Trump.
The event is packed with members of the Senate and House, including Senator Bill Hagerty and the “Queen of Crypto” Senator Cynthia Lummis, both of who serve on the US Senate Committee on Banking (along with JD Vance).
Presumptive Democratic nominee Kamala Harris was also invited to speak at the event, but declined. Her stance on crypto remains unknown — and if she waits too long, irrelevant. (We’ll see if she softens her stance in time.)
Considering that 1 out of every 4 Americans owns crypto, this isn’t a sidebar issue, and could quite literally decide the results of the election. Most Americans have trouble voting directly against their pocketbooks, even if they value other issues.
Bitcoin’s Magic Weapon Against Inflation
Bitcoin can do something that no traditional currency can do: automatically make itself more valuable. It does this by periodically limiting the supply of new Bitcoins — which has the immediate effect of cutting inflation and boosting the price.
It’s called the “halving,” and every time it happens Bitcoin investors make more money. The most recent halving is already at work... and it won’t be long before we see the price start to move (just as it’s done 3 times already). Find out why the Bitcoin halving will deliver enormous gains for investors.
Bitcoin has moved up 15% over the past few days in anticipation.
The price could explode from here if Donald Trump makes a major announcement tomorrow.
Some possible scenarios:
1. Trump announces that he’s rolling back the restrictions on Bitcoin and digital assets. Given the unpopularity of the Biden administration's stance on Bitcoin, it’s not a stretch that Trump will pick on policies that everyone already dislikes.
2. Trump announces positive policies for Bitcoin mining. Trump has already announced support for miners and for its role in revitalizing US energy infrastructure. Additional announcements will be welcome additions for the Bitcoin mining industry.
And then this last one is the biggie that investors are hoping for...
3. Trump announces that he’s backing the addition of Bitcoin as a Federal Reserve strategic reserve asset. Senators Hagerty and Lummis have already floated this idea to the Senate Banking Committee, and it’s not unlikely that Trump will show support. If so, he’ll likely tout it as a safety hedge against CBDCs (Central Bank Digital Currencies), which he’s firmly against.
Whatever the details of tomorrow’s keynote, it’s bullish news for Bitcoin.
If you haven’t already invested in Bitcoin, or want to know more about leveraging price moves for the biggest gains, then now is the perfect time to watch our own crypto guru Chris Curl’s presentation on Bitcoin and the Bitcoin halving, which is still taking effect on price.
Regardless of your own personal politics, Bitcoin is shaping up to be the ultimate “Trump Trade” for investors.
Make it your own,
John Carl
Editor, Daily Profit Cycle