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Key Highlights from Tump’s Bitcoin 2024 Conference Speech

If elected:

  • The U.S. government will retain 100% of Bitcoin acquired from seized assets.
  • Gary Gensler will be removed from office on day one.
  • Energy costs will be reduced to promote domestic mining.
  • The right to self-custody of cryptocurrencies will be upheld.
  • Creation of Central Bank Digital Currencies (CBDCs) will be banned.
  • A framework for stablecoins will be introduced.
  • Operation Chokepoint 2.0 will be terminated.
  • Ross Ulbricht’s sentence will be commuted.
  • The U.S. will aim to become the global crypto capital.

Despite Bitcoin’s volatility during Trump’s Bitcoin Conference speech, the market did not experience the dramatic movement anticipated by options traders. Bitcoin remains within the $67,000-$70,000 range, and volatility has sharply declined.

Trump’s speech echoed industry expectations, but the market may require a more significant catalyst for a major breakout. This catalyst could materialize closer to the U.S. elections when promises and policies are more clearly defined.

Trade Idea

With Bitcoin failing to breach its ATH despite Trump’s optimistic remarks, it is plausible that Bitcoin will continue trading in a range.

Principal Protected Range Accrual (USD Principal)

  • Receive weekly 30% p.a. coupon if BTC is trading between 65k and 75k during observation.
  • Maturity: 25-Oct (12 weeks)
  • Coupon Rate: 30% p.a. in USD if BTC/USD fixes at-or-within Coupon Range, 0% pa otherwise
  • Coupon Range: 65k to 75k
  • Coupon Frequency: Weekly from 9-Aug

(BTC spot ref: 69,500)

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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.