President Biden's reelection campaign is allegedly in talks to accept bitcoin and cryptocurrency donations, according to reports. The move comes after his rival Donald Trump opened up Bitcoin contributions to his campaign.
JUST IN: 🇺🇸 Joe Biden's campaign is in talks to accept cryptocurrency donations through Coinbase Commerce, The Block reports. pic.twitter.com/lvS3dyasgq
— Bitcoin Magazine (@BitcoinMagazine) June 12, 2024
sources claim The Biden team is discussing accepting cryptocurrency donations via Coinbase Commerce. The payment service allows contributions to the Trump campaign.
The Biden campaign's outreach is said to be an attempt to appeal to voters focused on Bitcoin and cryptocurrencies ahead of the hotly contested 2024 election.
However, the news sparked backlash from some industry figures. Critics argued that this was hypocritical given the Biden administration's hostile stance toward the industry, including its recent veto of bipartisan cryptocurrency legislation.
Sources say the Biden team wants to signal a friendlier stance on bitcoin and cryptocurrencies. With the election expected to end in razor-thin margins, Bitcoin and cryptocurrency voters could be decisive.
Billionair Mark Cuban suggested Biden's indifference to cryptocurrencies could hand Trump the presidency. Recent polls give Trump a double-digit lead among cryptocurrency holders.
The Biden campaign has not officially confirmed reports of potential cryptocurrency donations. The sources stressed that the talks are still exploratory as Biden gauges the Bitcoin and cryptocurrency landscape.
However, the post shows the growing influence of Bitcoin. Both parties realize that appeasing Bitcoin supporters is now necessary, even if symbolic. With potential voters and donors at risk, expect more Bitcoin hype as November approaches.