Crypto veteran Kyle Chassé anticipates a bullish move in Bitcoin price and the broader cryptocurrency market. In his “10-step master plan,” he says BlackRock and Donald Trump play critical roles.
The market is abuzz as the crypto community counts down the days until the Bitcoin 2024 Conference, which is only two days away. Key industry billionaires are set to attend.
Bitcoin 2024 Buzz: Crypto Veteran’s 10-Step Master Plan
Chassé anticipates a bullish move in Bitcoin and crypto, steered by multiple factors. The former US president and Republican ticket nominee, Donald Trump, is at the center of all the factors. To start with, Trump’s pro-crypto stance, demonstrated by accepting Bitcoin donations, marks a key catalyst for Bitcoin.
The crypto veteran also cites Trump’s move to name JD Vance as a vice presidential running mate and their intention to beat China in crypto adoption.
“If we don’t do it, China is going to pick it up, and China’s going to have it—or somebody else. […] So you have to look at it—what I want, again, is what is good for the country. So we have a good foundation. […] But I don’t want to be responsible for allowing another country to take over this sphere,” Trump explained.
Read more: Crypto Regulation: What Are the Benefits and Drawbacks?
Another fundamental in the 10 plays the analyst lists in his master plan is the speculation that Donald Trump is considering BlackRock CEO Larry Fink as Treasury Secretary, not JP Morgan’s Jamie Dimon, as previously reported, following reports on the New York Post.
The crypto veteran also considers a Trump victory in the November elections after President Joe Biden’s withdrawal from the race. Chassé sees an easy win for Trump, citing “a crypto election.” This is with Vice President Kamala Harris and DNC presidential candidate Hillary Clinton in the race against Trump.
More closely, the analyst speculates a bullish announcement during the upcoming Bitcoin 2024 Conference, with Trump among the headlining speakers. If rumors are enough to buy, some say the event could see the presidential aspirant name Bitcoin as a strategic reserve in his prospective administration.
“HUGE BREAKING: Trump to announce a USA Bitcoin strategic reserve in Nashville- Sources,” noted Dennis Porter, the founder of the regulatory advocacy group Satoshi Act Fund.
Bitcoin as a Reserve Asset in the US
In a follow-up post, Porter explained how Trump could make Bitcoin a reserve asset in the US. He underscored, “Adding Bitcoin as a strategic reserve would be a decisive win for America and Bitcoin, but some wonder ‘how it can be done’.”
Based on his explanation, the presidential aspirant could leverage an existing financial mechanism such as the Exchange Stabilization Fund (ESF). The ESF is a financial tool managed by the US Treasury. According to Porter, it stabilizes the value of USD by intervening in foreign exchange and gold markets, a mandate that could be extended to include BTC.
“Integrating Bitcoin into the ESF would be a novel undertaking, given Bitcoin’s unique architecture compared to traditional currencies and commodities,” Porter explained.
Read more: How To Buy Bitcoin (BTC) and Everything You Need To Know
In a recent development, Elon Musk updated his profile picture on X (formerly Twitter), signifying a return to Bitcoin. Michael Saylor, CEO of MicroStrategy and a vocal BTC proponent, tweeted, “Laser Eyes are back in style.”
This, coupled with Trump’s revelations that Musk donates up to $45 million to his presidential campaign monthly, sparked rumors that he would attend the Bitcoin conference.
“If this is a teaser for another big guest announcement, I feel like the only person bigger than Trump that could break the internet at this point is Elon Musk. It would make sense too. He is friends with Trump and loves Bitcoin, and this event [Bitcoin 2024 Conference] is turning out to be the biggest FOMO event in crypto. I am completely speculating but it would be super cool to see Elon come to Nashville,” Fox Business journalist Eleanor Terrett commented.
Notably, Elon Musk’s name does not appear on the Bitcoin 2024 speaker list as of the time of writing. Nevertheless, he is in the same state, Tennessee, only in the city of Memphis. This is where the training of Grok, an AI developed by xAI, is taking place as part of a significant investment by the company.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
