Three Puerto Rican residents have become pivotal in converting Donald Trump, a once skeptical figure, into a Bitcoin enthusiast. Amanda Fabiano, Tracy Hoyos-López, and David Bailey reportedly used their unique positions to influence the former president, particularly to get him to attend the Bitcoin Conference in Nashville.
Consequently, Trump’s speech made headlines, enhancing his pro-crypto stance. Moreover, during the Bitcoin Conference, Trump also committed to fire the US Securities and Exchange Commission (SEC) boss, Gary Gensler, upon winning the election.
Who Are The 3 Individuals?
Amanda Fabiano, known as the shadow chief of Bitcoin miners, played a key role in this transformation. Her experience in managing mining operations lent credibility to the discussion, framing Bitcoin as a legitimate enterprise.
Tracy Hoyos-López, a former California prosecutor, brought a fresh perspective and legal acumen. Recently converted to the Bitcoin cause, she emphasized the crypto’s potential for mainstream acceptance and legal stability.
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David Bailey completed this influential trio. Organizing the Nashville Bitcoin conference was just one of his contributions.
Bailey has maintained ongoing dialogue with Trump’s campaign since around March, providing information and laying the groundwork for high-level meetings. He reportedly promised around $100 million in donations from the crypto sector to support Trump, highlighting the community’s political and economic influence.
The strategic shift occurred over Memorial Day weekend at Bottles, a steak house in Guaynabo. Bailey suggested a strategic meeting to discuss the potential of crypto mining.
“We were at dinner with a bunch of people, and David was like, ‘Hey, I’ve been talking to the administration, and I want to do a roundtable on mining, Can we chat this weekend?’” Fabiano recalled.
Their discussions quickly led to results. By mid-June, Trump agreed to host a 90-minute roundtable with top crypto executives at his Mar-a-Lago club. This session, focusing on the intricacies of cryptocurrency and its benefits, marked a substantial shift in Trump’s stance.
“That roundtable really set off like, OK, this industry is real, and they’re showing up with dollars, and they’re showing up with like, actual smart things to say and agenda items that are important to America,” Fabiano said.
This was not a casual pivot. Bailey, Fabiano, and Hoyos-López had prepared meticulously, choosing industry leaders who could articulate the benefits of crypto clearly. They aimed to show not just the financial advantages but also the societal impacts of adopting such technology.
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Trump’s Engagement With Crypto
Their efforts seem to have paid off. Trump has since engaged more actively with cryptocurrency. He has become the first major presidential nominee to accept crypto donations.
Additionally, he has supported the concept of self-custody, reflecting a transformation from his earlier skepticism.
However, these three individuals are not the only ones who orange-pilled Trump. His inner circle, and even his family, appears to be crypto enthusiasts.
“There are a lot of people in Trump’s orbit that are fans of Bitcoin. There are members of his family that are fans of Bitcoin. Donald Trump has sold real estate for Bitcoin. I just bought a pair of sneakers from him in Bitcoin,” Bailey said.
The involvement of his family in crypto initiatives, like the DeFi project led by his sons, highlights Bitcoin’s broadening appeal within his inner circle.
Through his crypto-friendly stance, Trump has received significant financial support from the crypto industry. For instance, reports claim that his campaign raised around $25 million during the Bitcoin conference.
However, according to the prediction market platform Polymarket, the odds of Trump winning the election are still at 50%.
Kamala Harris, the Vice President of the US, is giving him tough competition, also trying to appease the crypto community. That being said, the crypto industry has donated over $119 million, backing crypto-friendly candidates.
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