Bitcoin 2024 Conference Yields $25M for Donald Trump’s Election Fund

Crypto Reporter

Shalini Nagarajan

Crypto Reporter

Shalini Nagarajan

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Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

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July 31, 2024 02:42 EDT

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Donald Trump, previously a crypto skeptic, managed to raise $25m at the Bitcoin 2024 conference in Nashville this past weekend, according to Bitcoin Magazine CEO David Bailey.

Most funds were raised during the Bitcoin Conference fundraiser for Trump at Nashville’s Music City Center on Saturday, right after his big speech. The event was reportedly his “second largest fundraiser ever.” Bailey noted that the funds were sourced “from a combo of industry and whales/OGs.”

For those of you who didn’t hear it in Trump’s speech, DJT raised $25m in Nashville. His second highest fundraiser ever across three different presidential campaigns. Came from a combo of industry and whales/OGs.

Warren and her goons talked Dems into committing mass seppuku.

— David Bailey🇵🇷 $0.65mm/btc is the floor (@DavidFBailey) July 30, 2024

Celebrities and Crypto Giants Attend High-Profile Trump Fundraiser in Nashville

The Republican presidential nominee also hosted another fundraiser in Nashville. At this event, ticket prices reached up to $844,600 and a photo opportunity cost at least $60,000.

Fox journalist Eleanor Terrett reported that Gemini co-founders Tyler and Cameron Winklevoss were among event attendees. Celebrities included Kid Rock, Jake Paul, and Billy Ray Cyrus.

Bailey, who organized the conference, earlier said that the industry planned to raise $100m and mobilize over 5m voters for Trump’s re-election. This shows the crypto sector’s increasing support for Trump.

According to CNBC, Trump raised over $4m through various digital tokens before the conference. This included Bitcoin, Ether, XRP, and the stablecoin USDC. Leading the donations were the Winklevoss twins, who each gave 15.57 bitcoin, valued at just over $1m at the time of their contribution.

Donald Trump Once Slammed Bitcoin as ‘Based on Thin Air’

When he was in office, Trump openly criticized bitcoin. In July 2019, he declared he was “not a fan” of bitcoin and other cryptocurrencies, criticized their value as “based on thin air,” and expressed concerns about their use in illegal activities like the drug trade.

His campaign for this election has now amassed a total of $216m, with $128m cash in hand, per Federal Election Commission data.