Independent US presidential candidate Robert F. Kennedy Jr. made headlines at the Bitcoin 2024 conference by pledging to purchase 4 million Bitcoins for the U.S. government if elected president. Speaking to a cheering crowd, Kennedy outlined his bold plan to integrate Bitcoin into the national economy.

“I will sign an executive order directing the U.S. Treasury to purchase 550 Bitcoin daily until the U.S. amasses a reserve of at least 4 million,” Kennedy declared. This would represent nearly 20% of the total Bitcoin supply.

Kennedy also said he would transfer the 204,000 Bitcoin currently held by the government into a Federal Reserve strategic reserve. He promised the cascading impact of…

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The open interest in bitcoin futures hit a new peak of $39.8 billion on July 29 after sitting at $37.49 billion just the day before. Meanwhile, the price of bitcoin spiked to over $69,700 on the excitement surrounding the recent Bitcoin2024 conference in Nashville. Leading this charge was CME, with the highest open interest of 161.1K BTC, indicating strong institutional engagement in the derivatives market. Not far behind, the open interest for BTC on Binance reached 128.8K BTC, indicating a sizeable amount of retail involvement.

The speculation has been about major events, such as President Trump endorsing a Bitcoin reserve plan in his keynote at the conference, which drove bullish momentum on platforms like Bybit and Bitget.

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Former President Donald Trump addressed the Bitcoin 2024 conference in Nashville, Tennessee, setting forth an ambitious and Bitcoin-friendly agenda that electrified the crowd.

With thousands of attendees in person and many more tuning in via livestream, Trump’s speech marks a significant shift in his stance on digital currencies and outlines a bold vision for the future of Bitcoin in America.

Donald Trump’s speech at Bitcoin 2024 in Nashville was well-received — Source: WJTV

Trump Nashville Speech 2024

One of the most resounding promises from Trump’s speech was his commitment to remove Securities and Exchange Commission (SEC) Chair Gary Gensler if he is…

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Speaking at the Bitcoin 2024 conference in Nashville on Saturday, former President Donald Trump made several pledges to the Bitcoin community if elected in 2024. Most notably, Trump said he would create a strategic national reserve of Bitcoin as an economic asset.

“I pledge to the Bitcoin community that the day I take the oath of office, Joe Biden and Kamala Harris’ anti-crypto crusade will be over,” “The United States will be the crypto capital of the planet and the Bitcoin superpower of the world.”

Trump vowed to fire SEC Chairman Gary Gensler on his first day in office and appoint a new chairman more friendly to Bitcoin and crypto. He also said the government would keep 100% of its…

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The digital asset sector experienced significant activity last week, with a total of $245 million in investment inflows, highlighting a dynamic period for cryptocurrencies. Notably, trading volumes soared to their highest since May, reaching $14.8 billion, propelled by the debut of Ethereum ETFs in the US market. This surge aligns with an impressive uptick in assets under management, now valued at $99.1 billion, with year-to-date inflows hitting an unprecedented $20.5 billion.

Bitcoin continues to dominate, securing additional inflows of $519 million last week alone, bringing its total for the month to $3.6 billion and a staggering $19 billion for the year. This robust growth is largely credited to optimistic sentiments surrounding its potential role in future strategic reserves and speculation about upcoming federal rate cuts in September 2024.

The newly launched US spot-based Ethereum ETFs also saw remarkable interest, drawing $2.2 billion in inflows, marking the most substantial since December 2020. Despite this, Ethereum’s trading volumes and the market dynamics faced challenges from ongoing outflows in existing trusts, netting a slight outflow of $285 million last week. Nonetheless, the overall market trend remains overwhelmingly positive, underscoring strong investor confidence in the future of cryptocurrencies.

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Former U.S. congressman and long-standing liberty advocate, Ron Paul, articulated his support for bitcoin during a conversation with Bitcoin Magazine’s Pete Rizzo. Since the 1970s, when the U.S. decoupled the dollar from gold, Paul has championed sound monetary principles. Viewing bitcoin as an extension of his advocacy for financial freedom, he promotes the need for individual control over finances, free from government oversight.

Throughout the interview, Paul highlighted the perils of current economic policies, branding today’s environment as the “biggest bubble ever” due to rampant government spending and unchecked money printing. He underscored the persistent devaluation of the dollar and envisaged bitcoin potentially evolving into a recognized unit of account.

Despite the hurdles, Paul’s optimism for bitcoin’s role in fostering financial independence remains unshaken. He stresses the importance of educating the public on liberty and sound monetary practices, encouraged by the enthusiasm and receptiveness of younger generations toward cryptocurrency.