President Trump, in a press statement published on his personal page website He announced this afternoon that his campaign to win back the White House will begin accepting donations using Bitcoin.
BREAKING: 🇺🇸 Donald Trump is now officially kissing #Bitcoin For campaign donations. pic.twitter.com/ySkwNQT1D2
– Bitcoin Magazine (@BitcoinMagazine) May 21, 2024
This announcement by his campaign is sure to fan the fires among incumbent President Joseph Biden, who, along with fellow Democratic Sen. Elizabeth Warren (D-Mass.), has spent most of his term in Washington waging an all-out regulatory offensive against digital technology. Asset space, Bitcoin in particular.
“Our President Donald J. Trump has cut regulations and championed innovation in financial technology, while Democrats, like Biden and his official replacement, Elizabeth Warren, still believe that government alone has the answers for how our nation will lead the world,” the ad read. advertiser. “Efforts to limit government control over Americans' financial decision-making are part of a seismic shift toward freedom. Today's announcement reflects President Trump's commitment to an agenda that values freedom over socialist government control.”
As Bitcoin Magazine noted in its Orange issue, Trump's appointment of former Coinbase Vice President Brian Brock as Comptroller of the Currency was “the single most important step for Bitcoin's progress in U.S. history,” because it allowed banks and financial institutions to hold cryptocurrencies. This ruling went into effect midway through the final year of Trump's first term, and the price of Bitcoin multiplied about twenty-fold in just the following calendar year.
The Trump administration has been no stranger to Bitcoin over the years, with longtime Bitcoin and cryptocurrency supporter Mick Mulvaney named White House chief of staff, as well as PayPal's Peter Thiel appearing on his transition team.
Trump also made history by becoming the first US president to adopt non-fungible tokens through his incredibly successful Trump Cards run out At the end of 2022. In another historical precedent that should not be forgotten, Melania Trump was the first first lady to assume the presidency of the United States. tweet About Bitcoin creator Satoshi Nakamoto's contribution to the financial system at the beginning of 2022, referring to the January 3 anniversary of the Genesis Block that started the Bitcoin blockchain.
in January At a campaign stop in New Hampshire, Trump promised that when elected, he would not allow the Federal Reserve to create a central bank digital currency. “Tonight, I also make another promise to protect Americans from government tyranny,” Trump said. “As your president, I will never allow the creation of a central bank digital currency.”
As for campaign donations themselves, the announcement specified that donors will be able to send bitcoin and other cryptocurrencies to the Trump 2024 campaign via Coinbase, the only publicly listed bitcoin exchange in the United States.
“Biden’s surrogate, Elizabeth Warren, said in an attack on cryptocurrencies that she was building an ‘anti-crypto army’ to restrict Americans’ right to make their own financial choices,” the ad continued. “MAGA supporters, who now have a new cryptocurrency option, will build a cryptocurrency army to carry the campaign to victory on November 5th!”
For details on how to donate to the Trump 2024 campaign, visit their website here.
