Donald Trump, the former President of the United States, has announced that he will begin accepting cryptocurrency donations to support his re-election campaign. He claims to be the first presidential candidate to utilize digital assets for fundraising.
On May 21, a statement on Trump’s campaign website stated, “The addition of this fundraising method allows President Trump to set another record in digital fundraising operations, as he becomes the first major party nominee for President to accept cryptocurrency donations.”
However, CNBC points out that Trump is not officially the Republican presidential candidate 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 during his presidential campaign in 2015.
According to the information on Trump’s campaign website, donors can contribute in multiple cryptocurrencies, including Bitcoin, Ethereum, XRP, Cardano, Dogecoin, and Shiba Inu.
Trump emphasizes the importance of “financial decision freedom”
Cryptocurrency has become a key topic in the November US presidential election, as both former President Trump and current President Joe Biden are expected to be the main candidates for their respective parties.
These two candidates have different stances on cryptocurrency. Trump has publicly supported cryptocurrencies and pledged to promote their development through appropriate regulations.
Trump’s campaign website even states that he is committed to promoting financial technology innovation, while pointing out that his Democratic opponent Biden and his official representative Elizabeth Warren believe that only the government can decide how the country leads the world. Warren has also shared a post on X outlining her efforts to build an “anti-cryptocurrency army,” as described by 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 policies that prioritize freedom over socialist government control,” writes 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 last year, Trump sold the third series of his NFT digital collectible card, 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 at Mar-a-Lago for NFT supporters. Politico reported that Trump urged these crypto asset supporters to “vote for” him, as the Biden administration holds a negative attitude towards cryptocurrencies.
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.
Source:
CryptoSlate, CNBC