Former US President Donald Trump, who is currently facing criminal charges in multiple jurisdictions, has announced that his 2024 presidential campaign will accept cryptocurrency donations.
Fundraising with Crypto
On May 21, the Trump 2024 campaign launched a fundraising page, enabling eligible individuals to contribute using Coinbase Commerce. The website features logos of various cryptocurrencies, including Bitcoin, Ether, Dogecoin, Shiba Inu, XRP, USD Coin, Solana, and 0x. The announcement also took a swipe at Senator Elizabeth Warren, accusing her of acting as President Joe Biden’s spokesperson on cryptocurrency matters without providing evidence.
Campaign Strategy
At a recent dinner for supporters who purchased an NFT featuring a mugshot of Trump, the former president expressed his intent to accept campaign donations in cryptocurrency. With less than six months remaining until the 2024 Election Day, Trump is viewed as the presumptive Republican Party nominee, likely to face President Biden, the presumptive Democratic Party nominee.
Cryptocurrencies and Campaign Policies
Despite the campaign’s new acceptance of cryptocurrency donations, Trump’s “issues” page does not currently address digital assets or blockchain technology. President Biden has made few public statements on cryptocurrencies but signed an executive order in 2022 to create a regulatory framework for digital assets.
Trump’s Evolving Stance on Cryptocurrencies
In 2021, Trump was skeptical of Bitcoin, calling it a “scam” and favoring the US dollar as the global currency. However, during his campaign, rivals Vivek Ramaswamy and Ron DeSantis have made statements about central bank digital currencies (CBDCs). In January 2024, Trump declared at a campaign event that he would never allow the creation of a CBDC in the United States.
Trump’s acceptance of cryptocurrency donations marks a significant shift in his campaign strategy, reflecting a broader acceptance of digital currencies within political fundraising. As the 2024 election approaches, it remains to be seen how this move will impact his campaign and the broader discourse on cryptocurrency regulation and adoption in the United States.
Source: finance.yahoo.com
