Mike Belshe, CEO of BitGo, will host a fundraiser for Donald Trump’s presidential campaign. It will feature the Republican nominee’s running mate, JD Vance. The Palo Alto, California event on Monday is a reflection of the increasing backing that Bitcoin executives have shown for President Trump.
A copy of the invitation that Bloomberg News was able to obtain shows that admission to the dinner reception costs $3,300, while a picture with Vance costs $15,000. Additionally, a roundtable discussion costs $25,000. It costs $50,000 for a couple to join the host committee.
Belshe highlighted the administration’s tough position on cryptocurrencies and digital assets and expressed optimism that Trump’s leadership will lead to a more candid conversation with the sector.
A Shift in the Silicon Valley All Because of Bitcoin?
Silicon Valley, traditionally leaning Democratic, is witnessing a shift as several tech company founders and venture capital investors, including Marc Andreessen, Ben Horowitz, and David Sacks, pledge significant donations to support Trump’s return to the White House.
These supporters believe Trump’s agenda, focusing on renewing tax cuts and reducing government regulation, will benefit startups in the AI and cryptocurrency sectors. In June, Belshe donated $50,000 worth of Bitcoin to Trump’s campaign.
The fundraiser highlights Vance’s close connections to the technology sector as well. Vance held positions at venture capital businesses associated with tech titans such as Steve Case and Peter Thiel before entering the political arena.
Thiel contributed $15 million to Vance’s Senate campaign, bolstering Vance’s ties inside the tech sector. As evidenced by a significant San Francisco fundraiser in June organised by financiers Chamath Palihapitiya and Sacks, these relationships have proven helpful in supporting Trump’s campaign funds.
Trump Plays the Bitcoin Card for 2024 US Elections
Trump has grown to love the cryptocurrency industry despite his initial scepticism. Digital assets are now accepted as donations to his campaign. According to Federal Election Commission reports, since May, when he started to take cryptocurrencies, Trump has raised $3.4 million in Bitcoin, Ether, USDC, and other virtual currencies.
Notably, crypto billionaires Cameron and Tyler Winklevoss of Winklevoss Capital Management and Jesse Powell, co-founder of Kraken, gave Trump a maximum donation of $844,600.
Trump’s forthcoming speech and private fundraiser at the Bitcoin Conference in Nashville, Tennessee, demonstrate his love of cryptocurrency. Prominent speakers will address the conference, including Robert F. Kennedy Jr., a presidential candidate. Over 20,000 people are anticipated for the three-day event, which will highlight the expanding significance of Bitcoin in the mainstream finance sector.Â
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