Former U.S. President Donald Trump Announces Acceptance of Cryptocurrency for Campaign Donations

Former U.S. President Donald Trump made headlines today as he announced his intention to accept cryptocurrency for campaign donations. In a series of video clips uploaded by NFT creator and influencer Frank Degods, Trump can be seen telling a group of buyers of his NFTs that he plans to allow donations in crypto.

During the gathering with buyers of his “Mugshot Edition” NFTs, Trump also took a swipe at President Joe Biden, claiming that Biden doesn’t understand cryptocurrency. Trump urged crypto supporters to vote for him, stating, “If you like crypto in any form, you better vote for Trump.”

In response to a question about keeping crypto businesses in the U.S., Trump assured that he would work to retain them in the country, emphasizing the importance of embracing the crypto industry.

Following Trump’s comments, the “Jeo Boden” memecoin, a token based on President Biden, saw an 18.5% increase in value. Trump expressed skepticism about the token’s market capitalization, stating, “That’s a lot of money for a coin. I don’t like that investment.”

Avichal Garg, Co-founder of Electric Capital, praised Trump’s evolving stance on crypto, noting that if Biden remains anti-crypto, it could lead to broader opposition from Democrats.

As Trump gears up for the upcoming U.S. presidential election in November 2024, his campaign’s acceptance of cryptocurrency could have significant implications for the crypto industry. The Block reached out to the Trump campaign for further comment, but they did not immediately respond.

It will be interesting to see how Trump’s embrace of cryptocurrency shapes the political landscape leading up to the election. Stay tuned for more updates on this developing story.