How Three Bitcoin Enthusiasts 'Orange-Pilled' Donald Trump and Secured a $100 Million Crypto Commitment
In a surprising turn of events, former President Donald Trump has emerged as a vocal advocate for bitcoin, thanks to the efforts of three influential bitcoin enthusiasts from Puerto Rico. This transformation from crypto skeptic to bitcoin supporter was orchestrated behind the scenes by Amanda Fabiano, Tracy Hoyos-López, and David Bailey, who worked diligently to sway Trump’s views on cryptocurrency and leverage his platform for a significant fundraising push.
The pivotal moment came in late July at the Music City Center in Nashville, Tennessee, where Trump headlined the largest bitcoin conference of the year. The event marked a notable shift in Trump’s stance on bitcoin, as he passionately endorsed the cryptocurrency and outlined his vision for its future in the U.S. If re-elected, Trump promised a surge in domestic electricity production to support bitcoin mining, stating, “If crypto is going to define the future, I want it to be mined, minted, and made in the USA.” This speech represented a stark contrast to his previous dismissal of bitcoin as a “scam” just three years earlier.
The groundwork for this dramatic shift began months earlier in Puerto Rico, where Fabiano, Hoyos-López, and Bailey began formulating their strategy. Fabiano, known for her expertise in bitcoin mining, Hoyos-López, a former prosecutor, and Bailey, CEO of BTC Inc. and organizer of the Nashville conference, saw an opportunity to influence Trump’s crypto perspective and mobilize substantial financial support from the industry.
During a Memorial Day weekend dinner at Bottles, a steakhouse in San Juan, the trio mapped out their plan. Bailey had been in ongoing discussions with the Trump campaign, presenting details on a potential fundraiser and a working group for bitcoin miners. Hoyos-López, who had recently embraced bitcoin, used her contacts to facilitate introductions within Trump’s inner circle. Fabiano’s reputation in the mining sector added crucial credibility to their efforts.
Bailey, Fabiano, and Hoyos-López understood that convincing Trump required assembling a compelling group of bitcoin advocates to illustrate the industry’s potential and its financial viability. Their goal was to secure enough high-profile endorsements and donations to make the Nashville event a success. “It was like, ‘Who would we put in the room? Who would be the best people to explain this, right? Who would be willing to put dollars up, kind of put their skin in the game?’” Fabiano recounted.
Their efforts paid off as Trump agreed to a roundtable discussion with top crypto executives and experts at Mar-a-Lago in mid-June, following the initial dinner meeting. The gathering aimed to solidify Trump’s support for bitcoin and ensure substantial financial backing for the upcoming conference.
The Nashville event turned out to be a major success, showcasing Trump’s newfound enthusiasm for bitcoin and his commitment to supporting the industry. He claimed to have raised $25 million in crypto-related funds, a figure that, while not independently verified, highlights the significant financial impact of his endorsement.
The push to ‘orange-pill’ Trump aligns with a broader trend in which crypto advocates seek to influence political figures to gain favorable policies and increase investment in the industry. The strategy of leveraging prominent personalities and high-profile events to promote bitcoin reflects the growing importance of cryptocurrency in mainstream politics and finance.
The impact of Trump’s endorsement extends beyond the conference circuit, as his support could drive further investment and policy changes beneficial to the crypto sector. His emphasis on U.S. production and energy for bitcoin mining resonates with ongoing debates about the environmental and economic implications of cryptocurrency.
As the 2024 presidential election approaches, Trump’s pro-bitcoin stance and the significant fundraising efforts spearheaded by Fabiano, Hoyos-López, and Bailey will likely play a crucial role in shaping the future of crypto advocacy in American politics. The collaboration between these Puerto Rican bitcoiners and the former president highlights the evolving relationship between cryptocurrency and political leadership, underscoring the potential for digital currencies to influence policy and economic strategies on a global scale.