Industry sources think Trump may announce Bitcoin as a strategic reserve asset Industry sources think Trump may announce Bitcoin as a strategic reserve asset
Satoshi Action Fund co-founder Dennis Porter and BnkToTheFuture founder Simon Dixon both shared the rumors on social media, citing credible sources.
2 min read
Updated: Jul. 18, 2024 at 7:10 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Former US President Donald Trump is rumored to make a groundbreaking announcement at the upcoming Bitcoin 2024 Conference in Nashville.
According to industry sources, the former President may have plans to unveil Bitcoin (BTC) as a strategic reserve asset for the US.
Satoshi Action Fund co-founder Dennis Porter and BnkToTheFuture founder Simon Dixon both shared the rumors on social media, citing credible sources.
However, these claims remain unconfirmed by Trump, his staff, or any public external sources. Until official confirmation is provided, these assertions should be considered speculative.
Bitcoin as a reserve
The idea of making Bitcoin a reserve asset is growing among crypto proponents, with many arguing that such a move would ensure the dollar’s dominance in the global financial landscape. The notion has gained more traction in recent weeks after Trump reportedly discussed the matter during a meeting.
Porter emphasized that Bitcoin as a strategic reserve asset for the US Treasury is a “no-brainer,” suggesting that such a move could shift the global financial paradigm and prompt other nations to adopt a Bitcoin position.
The idea has even spread beyond the crypto industry, with BlackRock CEO Larry Fink recently making similar statements and calling the flagship crypto “digital gold.”
David Bailey, CEO of Bitcoin Magazine and an advisor to the Trump campaign, has also explored the theoretical impacts of the US adopting BTC as a strategic reserve asset. His vision involves securing a significant BTC reserve for the US Treasury by time-locking 210,000 BTC held by the USA for 100 years.
Rising political relevance
The rumor has generated considerable excitement among crypto investors and advocates. Bitcoin-friendly political leaders have long advocated for considering BTC as a strategic reserve asset.
Vivek Ramaswamy, a former presidential candidate, has been advising Trump on Bitcoin and digital assets since January. Ramaswamy previously proposed backing the US dollar with a basket of commodities, including Bitcoin, to combat inflation and maintain the currency’s value over time.
In recent weeks, Trump has voiced strong support for the sector despite historical reservations, and the Republican party followed suit by including Bitcoin and crypto-related issues in its latest platform.
Adding to the speculation of increased pro-Bitcoin and crypto measures, Trump recently announced that Senator JD Vance, a notable proponent of Bitcoin, will join his ticket as the vice-presidential candidate for the 2024 election.
Mentioned in this article
Bitcoin 
Satoshi Action Fund 
BnkToTheFuture 
BlackRock 
Donald Trump 
Dennis Porter 
Simon Dixon 
Vivek Ramaswamy 
Larry Fink Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Satoshi Action Fund
Satoshi Action Fund (SAF) is a 501(c)(4) non-profit educational organization dedicated to informing policymakers and regulators about Bitcoin mining’s benefits and how it can be used as a tool to support other public policy goals.
BnkToTheFuture
BnkToTheFuture is a global online investment platform that allows qualifying investors to invest in financial innovation including FinTech companies, funds, and other new alternative financial products.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
Dennis Porter is the co-founder and chairman of Satoshi Action Fund, a 501(c)(4) non-profit educational organization dedicated to informing policymakers and regulators about Bitcoin mining’s benefits and how it can be used as a tool to support other public policy goals.
Simon Dixon is the CEO & Co-Founder of BnkToTheFuture.com, an online investment platform that allows professional investors to invest in financial innovation and technology investment opportunities.
Vivek Ganapathy Ramaswamy, born August 9, 1985, in Cincinnati, Ohio, comes from a family of Indian Hindu immigrants.
