Republican Presidential candidate and Former US President Donald Trump has declared his support for cryptocurrency, advocating for its future in the United States, as the presidential election draws closer. With this declaration, Trump’s views on digital assets have clearly changed because he now acknowledges their ability to spur economic growth and innovation.
US Should Not Accept Second Place In The Crypto Industry
Former US President Donald Trump revealed his unwavering support for cryptocurrency during a campaign against incumbent President Joe Biden in Washington DC. He also disclosed his plans for the industry should he be elected as the next president of the US.
“I will ensure the future of crypto and the future of Bitcoin will be made in the USA, not driven overseas,” he stated. This statement simply demonstrates that Trump aims to position the US as a leader in the global digital economy and emphasizes the significance of progressive regulations.
Trump further stated that he would support the right to self-custody for the over 50 million digital currency holders in the US. The former president has promised to create a safer landscape by keeping those against digital assets, such as US Senator Elizabeth Warren, away from it. In addition, he affirmed his stance against the creation of a central bank digital currency.
It is worth noting that Trump has constantly displayed his support for digital assets lately. Last week, the former president announced he would be accepting political donations for his campaign in the form of cryptocurrency through Coinbase Commerce.
The website read:
“Demonstrating President Trump’s success as a champion of American freedom and innovation, we proudly offer you a chance to contribute to the campaign with cryptocurrency.”
According to his website, the campaign will be accepting coins such as Bitcoin (BTC), the largest digital asset, Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB).
Specifically, the campaign has established a fundraising page where donors who meet federal requirements can make contributions with any of the aforementioned assets that Coinbase Commerce accepts.
With this action, the presumptive Republican presidential nominee in this year’s upcoming election is now the first candidate from a major party to accept digital currencies.
Trump Blasts Joe Biden’s Understanding Of The Assets
This move by Trump comes a few weeks after he declared himself a crypto candidate for the upcoming election at a Mar-a-lago gala celebrating Trump’s Mugshot Edition NFT collection. At the event, Trump highlighted the value of crypto supporters’ votes as he asked them to back his candidacy.
He then criticized current US president Joe Biden, alleging he lacks understanding of these digital assets, casting himself as a pro-innovation rival ahead of the election scheduled for November 4, 2024.
Thus, he has urged crypto enthusiasts to vote for him in order to drive innovations and make the US a leader in the industry. “If you like crypto in any form you better vote for Trump,” he stated.
Featured image from Shutterstock, chart from Tradingview.com
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