Inside The Trump Bitcoin Summit With The Bitcoin Whales

Would you like a seat at the $845,000 per person Bitcoin summit that Donald Trump just held? Here it is.

Trump had a roundtable in Nashville with many of the Bitcoin whales. The meeting included Peter Theil, co-founder of PayPal, along with Tyler and Cameron Winklevoss, co-founders of the Gemini cryptocurrency exchange. Other notables included Vivek Ramaswamy, and three United States senators – Marsha Blackburn, Cynthia Lummis and Bill Hagerty. Celebrities like Billy Ray Cyrus and Kid Rock were there also along with some of the top Bitcoin miners.

Of course, the hope of the Bitcoin crowd is that Trump will deregulate the cryptocurrency industry and require the SEC to stop treating cryptos as securities. Trump also wants to make it easier for banks to pay and receive in Bitcoin and for customers to open Bitcoin denominated accounts.

Other matters under discussion were Trump’s plans to deregulate the oil and natural gas industries to allow greater energy output. This will lower the cost of electricity, which is a major input to Bitcoin mining operations. Lower energy costs will increase the profits of the Bitcoin miners. So, it’s no surprise that every seat at the summit was taken and Trump raised millions for his campaign.

Will Trump live up to the Bitcoin miner expectations? And if he does, will it make a big difference in the price of Bitcoin? It’s difficult to tell. For now, we can say with certainty that the Bitcoin crowd are all aboard the Trump train.

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