‘Make Bitcoin Great Again’: Trump’s Presence and Harris’s Absence Cast a Shadow Over Annual Crypto Gathering
Sarai Mora, a multimedia performance artist and NFT creator known as Creatress, created a 3D sign.
NASHVILLE — On the first full day of Bitcoin 2024 at the Music City Center convention complex, Charlene Brown arrived with two signs in hand: “Orange Man Good” and “Bitcoin Don.”
These signs reflected a notable shift in the politics surrounding bitcoin, evident throughout the Nashville crowd. “Make Bitcoin Great Again” hats — alongside unauthorized “Make America Great Again” hats that were eventually confiscated by organizers — were scattered around as the event commenced.
Brown, who publishes Tokens Magazine, a pro-cryptocurrency outlet, stood out as a prominent pro-Trump bitcoin advocate. “I love that we now have a president who supports Bitcoin,” she said, referring to former President Donald Trump. “Now everyone is jumping on the bandwagon.” Other attendees also expressed support for Trump, though often in more subdued ways.
The Bitcoin Conference, an established event focused on the leading cryptocurrency, has gained national importance almost overnight due to Trump’s recent endorsement of bitcoin. The event, which began Friday and runs through the weekend, features several prominent GOP figures. Trump is scheduled to speak on Saturday, shortly after officially integrating cryptocurrency support into the GOP platform. Current and prospective Republican officials, including South Carolina Sen. Tim Scott, Pennsylvania Senate candidate Bernie Moreno, Nevada Senate candidate Sam Brown, and Massachusetts Senate candidate John Deaton will precede him.
The speaker lineup also includes notable Republicans such as former presidential candidate Vivek Ramaswamy and Senators Marsha Blackburn, Bill Hagerty, and Cynthia Lummis. Representative Ro Khanna of California is the only prominent Democrat on the roster.
This speaker list highlights the crypto world’s and tech sector’s recent hard-right shift. Prominent crypto investors backing Trump now include Cameron and Tyler Winklevoss, co-founders of the Gemini crypto exchange, and Elon Musk, a long-time crypto supporter who has recently intensified his backing of the GOP candidate. Robert F. Kennedy Jr., running for president on a third-party ticket, also attended, pledging to build a reserve of 4 million bitcoins — valued at about $272 billion as of Friday — if elected.
Some GOP members have proposed establishing a U.S. bitcoin reserve, similar to the strategic reserves of oil and other key resources. Silicon Valley played a role in selecting JD Vance as Trump’s running mate; Vance disclosed in 2021 that he owned $100,000 worth of bitcoin and has praised crypto as a sector where conservatives can operate free from social justice pressures.
Historically, the crypto community has been wary of politicians and institutions due to its origins in the cypherpunk movement, which championed decentralization. However, many in the cryptocurrency community view Trump as a potential ally, contrasting him with the Biden administration’s perceived restrictive stance. “With Trump, it’s not even that he’s necessarily pro-Bitcoin — it’s just that he’s willing to let it exist,” said Adam McBride, a crypto entrepreneur based in Costa Rica. He compared the current administration’s approach to being “held underwater, not allowing us to breathe.”
Trump had previously distanced himself from the crypto community, even declaring himself “not a fan” of crypto. However, he recently changed his stance, expressing support for Bitcoin mining, pledging to commute the sentence of the Silk Road founder, and incorporating crypto support into the GOP’s 2024 platform. The platform document states: “We will end Democrats’ unlawful and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency,” reflecting the crypto community’s opposition to centralized digital tokens. It also promises to defend Bitcoin mining and the right to self-custody of digital assets free from government surveillance and control.
While crypto enthusiasts acknowledge Trump’s positive statements, some attendees remain cautious about fully aligning with his platform. Garett Curran, an associate at Qubic Labs, a Boston-based blockchain and Web3 support organization, suggested that Trump’s involvement presents an opportunity to challenge the current regulatory stance, which many in the crypto world find overly restrictive. He also noted potential for more favorable crypto policies from Democratic candidate Kamala Harris, citing recent remarks from Mark Cuban about her greater openness to cryptocurrency.
“The bitcoin community actually has power,” Curran said.
Yet, some attendees, despite Trump’s newfound crypto support, could not reconcile his views with their values. Sarai Mora, a multimedia artist known as “Creatress,” who performed at a local bar on Thursday night, expressed that Trump’s other positions conflicted with her own beliefs as a woman of Mexican descent. “I’m hoping the female candidate wins — it’s time to try something new,” she said. “I’m not saying anyone’s perfect, but I think it’s time to try something different.”
