>Jul. 21st, 2024 Ok, this is just... silly. The news/rumor is already far outdated as the time to capitalize off this was the middle of last week when it first hit traders. This is Elite Traders, not Retired Pensioners. I already did the trade (and wrote in my journal thread) as soon as it hit me. And even then, I was worried that the opportunity was already going to be fully arbitraged away. Markets had closed so I had to go into the over-night CME Futures on Bitcoin. And then also loaded more longs in another brokerage for 24/7 spot-value trading. Though, it does indeed seem Mr. Market was sleeping a bit on this, as it wasn't until after regular markets opened next morning that all boats began to rise.
Scammer to deliver keynote address to conference of easy mark. Trump to deliver keynote at world's largest bitcoin conference Trump and his running mate, Ohio Sen. JD Vance, have positioned themselves as a pro-crypto ticket https://www.foxbusiness.com/politics/trump-deliver-keynote-worlds-largest-bitcoin-conference
And for less than 12 bitcoin, any of the marks can have a private meeting with him! https://finance.yahoo.com/news/donald-trump-offers-private-meetings-170237427.html
theblock.co Sen. Cynthia Lummis announces bill for US Treasury to buy 1 million bitcoin worth $68 billion: Bitcoin 2024 Senator Lummis announced a bill that would see the U.S. government purchase 1 million bitcoins as a “strategic Bitcoin reserve” on stage at the Bitcoin 2024 conference. “We will be debt-free because of Bitcoin,” Lummis promised. Senator Cynthia Lummis, of Wyoming, will introduce a bill to direct the U.S. Treasury to purchase 1 million bitcoins — worth about $68 billion at current prices — over a period of five years next week, she said in an interview with The Block. The move is made to counter the effects of dollar debasement, she said. “Bitcoin is a great store of value. Over the last four years or so it has increased about 55% per year. During the same period, the U.S. dollar has declined in value and we’ve seen increasing inflation,” Sen Lummis said. “So it would be of value, in my opinion, to have a hard asset that backs the U.S. dollar and that grows in value instead of declines in value,” the Senator added. Lummis has been a long-time supporter of bitcoin — reportedly buying her first tokens in 2013 — and has been at the forefront of attempts to pass crypto-specific legislation. Crypto has become an election issue in particular this year after former President Donald Trump endorsed the industry. According to Lummis, the legislation would have the U.S. Treasury self-custody the bitcoins across “a variety of geographic locations.” The government would hold those coins for at least 20 years unless the tokens are sold to “reduce the debt,” Lummis said. “We know from modeling the numbers and past experience with bitcoin, that it is capable of being an absolute game changer for the mess the United States has gotten itself into with its debt and its deficits,” Senator Lummis said. When asked, Lummis said the U.S. Treasury should also take custody of the estimated 210,000 BTC the U.S. Department of Justice and other agencies possess, largely accumulated through criminal seizures. “We have a strategic oil reserve. We hold gold. So the idea of a strategic reserve used specifically to reduce the debt solves so many problems that it almost seems inherently obvious, but it's nevertheless a big step,” Sen. Lummis said. This is not the first time Sen. Lummis has suggested the U.S. government buy bitcoin. In 2022, she floated the idea of diversifying the Federal Reserve’s balance sheet with bitcoin. Lummis herself owns upwards of $100,000 worth of BTC, as of her latest mandated filings. Although Lummis said she is optimistic that some crypto-specific legislation could pass this year — like the stablecoin bill she co-wrote with New York Senator Kirsten Gillibrand — she does not think the bitcoin treasury reserve bill will be seriously considered until after the upcoming elections. “This is not something that I see passing this year, but rather it was filed as a piece of legislation that people can review this year, drafted in-house by my staff,” Lummis said. Likewise, Sen. Lummis said she has been in conversations regarding Michigan Senator Debbie Stabenow’s crypto bill, which is still being drafted. While optimistic it could help plug holes in the current regulatory situation, she said “We’re running out of legislative days before the election.” Lummis, a lifelong Republican and Trump supporter said that the 45th president has essentially opened the floodgates to the U.S. embracing crypto. “President Trump was instrumental in drafting the language in the Republican Party platform. It includes opposing a central bank digital currency in the United States. It's pro bitcoin mining, and he wants to keep America as the mothership for digital assets,” she said.
theblock.co Trump says he'll fire SEC Chair Gensler and create strategic bitcoin reserve if elected: Bitcoin 2024 Donald Trump, in a keynote address to the Bitcoin 2024 conference in Nashville, promised to fire SEC chair Gary Gensler and stop the US from selling its bitcoin holdings, creating a “strategic bitcoin reserve,” if elected in November. Trump also promised to end “Operation Chokepoint 2.0” and another anti-crypto policies in order to support the domestic digital asset industry. Bitcoin fell in price to about $66,600 during the speech before recovering shortly after to $68,000. Donald Trump further outlined his crypto platform on stage at Nashville's Bitcoin 2024 conference in an address on Saturday after taking the stage an hour after his address was scheduled to begin. During Trump's speech, which mainly covered a wide range of general campaign-related policies, the former President also outlined more specific promises when it comes to bitcoin and the wider crypto industry. In a remark that led to a strong outburst of cheers from the audience, surprising Trump, the candidate announced that he plans to replace SEC Chair Gary Gensler if elected. Gensler is a common enemy of the crypto industry, which generally sees his policies as unnecessarily punitive towards crypto companies as Gensler views most digital assets to be illegally-issued securities. Trump also announced that he will stop the US from selling any of the 213,000 bitcoin, worth nearly $14.5 billion, that the government holds from prior enforcement actions, according to data from Arkham. "It will be the policy of my administration...to keep 100% of all the bitcoin the US government currently holds or acquires into the future," Trump announced. "This will serve in effect as the core of the strategic national bitcoin stockpile...It's been taken away from you." Trump also reiterated promises he had made in the past to commute Silk Road founder Ross Ulbricht's sentence and stop the U.S. government from further developing a Central Bank Digital Currency (CBDC). Trump also spoke favorably about developing stablecoins in the United States and supporting the bitcoin mining industry. "I will be the pro-innovation and pro-bitcoin candidate that America needs and that our citizens deserve," Trump promised to close his speech. Bitcoin's price fell during the speech to reach $66,600, nearly $3,000 less than its daily high of about $69,400. The price recovered shortly following the speech's end to about $68,500, according to The Block's Bitcoin Price Page.
Actually the peak was $19 Million. However it should be noted that every last dime of the lunches with Warren Buffett went to legitimate charities, unlike paid private meetings with Trump which are all about the grift. Warren Buffett charity lunch fetches winning bid of $19 million https://www.reuters.com/business/bidding-tops-123-mln-warren-buffett-charity-lunch-2022-06-17/
How quick we forget that Trump donated to charity as well. 'His own money'. Oh, you didn't hear the left talking about the million he gave to Mexico, etc... no no no. All you heard was how he is clearly racist, "just because".