Donald Trump, the former President of the United States, has announced that he will be accepting cryptocurrency donations to support his re-election campaign. He claims to be the first presidential candidate to use digital assets for fundraising. According to a statement on his campaign website, this new method of fundraising will allow Trump to break records in digital fundraising operations. However, CNBC has pointed out that Trump was not an official Republican presidential candidate until the national party convention in July. Other candidates, such as Robert F. Kennedy Jr. and Rand Paul, have also accepted Bitcoin donations in the past. Trump’s campaign website currently accepts donations in various cryptocurrencies, including Bitcoin, Ethereum, XRP, Cardano, Dogecoin, and Shiba Inu.
Cryptocurrency has become a key topic in the November US presidential election, with both Trump and his Democratic opponent, Joe Biden, expected to be the main candidates for their respective parties. Trump has publicly supported cryptocurrency and promised to promote its development through appropriate regulation. His campaign website even states that he is committed to promoting financial technology innovation, while his Democratic opponent, Biden, and his official representative, Elizabeth Warren, believe that only the government can decide how to lead the country. Warren has even shared a post on X describing her efforts to build an “anti-cryptocurrency army.”
Accepting cryptocurrency donations is just one of Trump’s efforts to attract the Web3 community. Last December, he sold the third series of NFT digital collectible cards, the “Mugshot Edition,” and those who collected a certain number of cards could unlock the ability to dine with Trump at his Mar-a-Lago estate. Earlier this month, Trump held a luxurious dinner for NFT supporters at the Mar-a-Lago Club, where he urged them to support him with their cryptocurrency assets because of the Biden administration’s opposition to digital assets.
According to a Pew Research Center survey 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.