Trump Announces Acceptance of Cryptocurrency Donations for Campaign Support
Former President Donald Trump recently announced that he will begin accepting cryptocurrency donations to support his reelection campaign, claiming to be the first presidential candidate to adopt digital asset fundraising.
A statement on Trump’s campaign website on May 21st stated, “The addition of this fundraising method allows President Trump to break records in the digital fundraising operation. This is the first time a major party presidential nominee has accepted cryptocurrency donations.”
However, CNBC points out that Trump was not officially the Republican presidential nominee until the announcement at the National Party Convention in July. In addition to him, independent presidential candidate Robert F. Kennedy Jr. announced in May 2023 that his campaign would accept Bitcoin donations. Republican Senator Rand Paul of Kentucky also accepted Bitcoin donations in the 2015 presidential campaign.
According to the information on Trump’s campaign website, donors can contribute in multiple cryptocurrencies, such as Bitcoin, Ethereum, XRP, Cardano, Dogecoin, and Shiba Inu.
Trump emphasizes the importance of “financial decision freedom”
Cryptocurrency has evidently become a key topic in the November US presidential election, with former President Trump and current President Joe Biden expected to be the main candidates for their respective parties.
These two candidates have different stances on cryptocurrency. Trump has openly supported cryptocurrency and promised to promote its development through appropriate regulation.
Trump’s campaign website even indicates his commitment to promoting financial technology innovation and highlights that his Democratic opponent, Biden, and his official representative Elizabeth Warren believe that only the government can decide how to lead the country. Warren has also shared a post on X describing her efforts to build an “anti-cryptocurrency army,” according to Politico.
“Reducing government control over Americans’ financial decisions is part of the transition to freedom. Today’s statement reflects President Trump’s commitment to promoting a policy that values freedom over socialist government control,” wrote Trump’s campaign website.
Trump actively attracts the Web3 community
In fact, accepting cryptocurrency donations is just one of Trump’s initiatives to attract the Web3 community.
In December of last year, Trump sold the third series of his NFT digital collectible cards, the “Mugshot Edition.” People who collected a certain number of cards could unlock the opportunity to have dinner with Trump at Mar-a-Lago.
Earlier this month, Trump hosted a luxurious dinner for NFT supporters at the Mar-a-Lago club. Politico reported that Trump urged these cryptocurrency asset supporters to “vote best” for him because the Biden administration has an opposing stance on cryptocurrency.
According to a survey by the Pew Research Center in April 2023, members of the cryptocurrency community are typically younger and predominantly male. Trump’s various strategies may attract the attention and support of this audience.
Sources:
CryptoSlate, CNBC