In his push for a second term, former United States President Donald Trump announced on Tuesday 21 May 2024, that he will now be accepting donations in cryptocurrency payments for his upcoming campaign trail. According to a press release, the crypto donations feature on his website is powered by global exchange Coinbase.
Trump Press Release Bullish For Crypto
According to the Press Release “Trump’s campaign has launched a fundraising page that provides any federally permissible donor the ability to give – through its joint fundraising committees – using any cryptocurrency accepted through the Coinbase Commerce product”.
Furthermore, Trump’s website states that he is accepting donations in a number of popular tokens such as Bitcoin, Ethereum, Dogecoin and Solana to name a few. Trump isn’t the first presidential candidate to accept donations in crypto. However, the wide variety of tokens accepted by Trump’s campaign makes it unique. Donations are also being accepted with popular meme coins such as Doge and Shiba Inu.
“Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she was building an “anti-crypto army” to restrict Americans’ right to make their own financial choices,” stated Trump in his press release. “MAGA supporters, now with a new cryptocurrency option, will build a crypto army moving the campaign to victory on November 5th!”
Is Change In Stance On Crypto A Clever Tactic?
At an event for holders of his NFT project at his Mar-a-Lago resort earlier this month, Trump stated that he’s “good” with crypto now. He had previously held an anti-Bitcoin stance. In 2021, he said that Bitcoin “seems like a scam” and that he would prefer the US dollar to be the global currency.
Trump has since become more and more involved in the world of digital assets. In late 2022, he launched ‘Trump Trading Cards’, a collection of NFTs built on Polygon. It was at his Mar-a-Lago event for holders of the NFT trading cards that truly marked Trump’s u-turn on cryptocurrencies.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
