KEY POINTS
- MoonTrump and several other Trump-themed memecoins surged as the news spread on social media
- He is expected to reaffirm his commitment toward supporting Americans' self-custody rights
- The announcement drew comparisons to the Trump and Biden 2024 campaigns
Several Trump-themed memecoins surged Wednesday night after it was confirmed that Republican presidential frontrunner Donald Trump will speak at the largest $BTC event this year, Bitcoin 2024.
The conference organizers announced Wednesday night that Trump will speak at the event, which already secured the attendance of some of the cryptocurrency industry's most prominent figures.
ANNOUNCING: PRESIDENT DONALD J. TRUMP TO SPEAK AT #BITCOIN2024 pic.twitter.com/F2mwECVMTW
— The Bitcoin Conference (@TheBitcoinConf) July 10, 2024
Crypto users on X (formerly Twitter) expressed excitement for Trump's appearance at the event, which will run from July 25-27 in Nashville. Web3 host Zack Guzmán said Trump, during his appearance at the conference, is expected to reaffirm his commitment to banning a U.S. central bank digital currency (CBDC) and reaffirm that Americans have a right to self-custody of their cryptocurrencies.
Web3 educator Kashif Raza expects Trump's speech to be "epic," while user @MachineAlpha said the former U.S. president's appearance at the event could be a sign "the stars are aligning for 2025 to be the bull run for the history books."
The GOP presidential frontrunner is joining independent candidate and long-time Bitcoin advocate Robert F. Kennedy Jr. in the speakers' panel, as well as Republican senators Bill Hagerty and Marsha Blackburn of Tennessee. Former presidential candidate Vivek Ramaswamy is also among the speakers.
Soon after the Bitcoin 2024 organizers confirmed Trump has been added to the speakers list, several Trump-themed memecoins climbed, as per data from CoinGecko.
MAGA Hat ($MAGA) climbed by over 11% in the last 24 hours, Super Trump ($STRUMP) surged by 9.9%, MAGA VP ($MVP) was up by 3.2%, and FreeTrump ($TRUMP) saw a 2.7% increase. The MoonTrump coin saw the largest jump, soaring by 14.8%.
The announcement has also drawn comparisons to Trump's 2024 campaign and that of incumbent President Joe Biden. User @ParrotCapital said the business magnate's move of speaking at the event "stands in harsh contrast to the Biden administration and their tough on crypto stance to date."
For far-right activist Laura Loomer, the latest development shows that Trump "is the pro crypto president," a notion the business mogul championed during a fundraiser in San Francisco earlier last month.
Trump reversed his stance on the crypto industry in recent months. He previously referred to Bitcoin, the world's top digital asset by market value, as a "scam." However, industry observers noted how he seems to have recognized the impact of crypto voters in the upcoming elections.
His campaign started accepting crypto donations late in May, and among the key crypto figures that have so far publicized their digital asset donations were the Winklevoss twins of crypto exchange Gemini.
