The Presidential Bitcoin Conference Begins
To investors,
The Bitcoin Conference starts today in Nashville. This will be the largest gathering of bitcoiners in the world.
Historically, the conference has served as an opportunity for companies to make major announcements. We have already seen one company this week, Fold, announce their plans to go public with at least 1,000 bitcoin on their balance sheet.
Here are a few predictions I have for this year’s conference:
President Trump will speak at the conference and call for the United States to create a national strategic reserve of 1 million bitcoin. This rumor has been floating around for a few days and I feel like it has a good chance of being true.
Elon Musk will attend the conference and speak about a renewed interest in bitcoin given the undisciplined fiscal and monetary policy.
Bitcoin will hit a new all-time high within 7 days of the conference ending if President Trump strongly embraces bitcoin and/or calls for the national strategic reserve.
Major financial institutions will compete with each other to position themselves as “the most bitcoin friendly” to the audience.
There will be at least one cringe moment on stage that is taken out of context by the mainstream media, so they can run with a few negative headlines.
Usually I would not expect a large price impact from the conference, but former President Trump is a wild card here. If he fully supports bitcoin and starts pushing the narrative that the US should buy a significant amount, it is not hard to see other nations trying to front-run the US to buy some bitcoin.
Lastly, it is telling that bitcoin has become so entrenched with politics. We have seen state and local politicians competing with each other over the last few years — there were mayors and governors claiming their jurisdictions were the “Bitcoin Capital of the World” and the mayors of NYC and Miami were competing to see who would take more of their salary in bitcoin.
Bitcoiners have long claimed this competition would come to national politics and determine geopolitical outcomes as well. It feels like we are on the edge of that moment now. We know at least two of the three Presidential candidates support bitcoin (Kennedy and Trump). This weekend will tell us a lot about where bitcoin sits on the global stage.
If you go to the conference, email me on Sunday with any of the lessons you learned or takeaways you had. I would love to learn from each of you.
Have a great day and I’ll talk to everyone tomorrow.
-Anthony Pompliano
Founder & CEO, Professional Capital Management
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Your content is good and I enjoy it but I would shy away from sensationalistic statements/predictions like "Bitcoin will hit a new all-time high within 7 days of the conference ending if President Trump strongly embraces bitcoin and/or calls for the national strategic reserve. " Epic fail I am afraid
Let’s be real. TFG doesn’t know anything about bitcoin. He is going to just say anything to make the bros vote for him. Just like his organization, airline, steaks, college and charities, the last thing you want is him making policy on business matters.