Donald Trump to Accept Cryptocurrency Donations for Campaign
Former U.S. President Donald Trump has announced his decision to start accepting cryptocurrency donations for his upcoming presidential campaign in 2024.
Trump’s Move Towards Crypto Donations
In recent video clips shared by Frank Degods, an influencer and creator of non-fungible tokens (NFTs), Trump revealed his willingness to accept crypto donations for his campaign. During a gathering with individuals who purchased his “Mugshot Edition” NFT collection, Trump expressed gratitude to those who bought over 47 NFTs priced at $99 each.
- Trump mentioned that the initiative to accept crypto donations was a way to show his support for the growing trend of NFTs.
Supporting Crypto Adoption
Trump emphasized his commitment to ensuring that his supporters who prefer using cryptocurrencies can contribute to his campaign. He also took a jab at President Joe Biden, claiming that Biden lacks an understanding of the crypto space, urging crypto enthusiasts to support his candidacy instead.
- He further reiterated his intention to retain crypto businesses in the United States and prevent them from relocating due to regulatory challenges.
Market Impact of Trump’s Statement
Following Trump’s announcement, the “Jeo Boden” meme coin, inspired by President Joe Biden, experienced a significant surge in value, reflecting the influence of Trump’s support for crypto within the market.
- The BODEN token market cap reached $240 million, showcasing the impact of Trump’s statements on crypto assets.
Trump’s Shifting Stance on Cryptocurrency
Co-founder of Electric Capital, Avichal Garg, lauded Trump’s evolving position on cryptocurrency, noting a marked improvement from his previous stance. Garg also highlighted the potential implications for the crypto industry depending on the stance of the current administration.
Trump’s Entry into the Crypto Market
In late 2022, Trump ventured into the crypto space by launching the Trump Digital Trading Cards NFT collection, leveraging his brand and identity to create a successful project in the NFT market.
- The project has been financially lucrative for Trump, with NFT prices surpassing $200 and generating royalties for the former president.
Hot Take: Trump Embraces Crypto for Campaign Funding
As Donald Trump shows willingness to accept cryptocurrency donations for his campaign, the crypto community awaits further developments in his evolving stance on digital assets. Stay tuned for more updates on Trump’s engagement with the crypto space.
Sources:
– Frank Degods Twitter
– CoinGecko – Jeo Boden Data
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