Staff Reports
Donald Trump, never one to shy away from breaking new ground, has once again stirred the pot in the political landscape by embracing the world of cryptocurrency. The former president has amassed a whopping $3 million in digital donations since May, becoming the first major presidential candidate to accept cryptocurrency. His latest move? Selecting a running mate who’s a die-hard Bitcoin aficionado.
Though Trump initially had a rocky relationship with Bitcoin, he managed to pocket $1.8 million worth of the cryptocurrency by the end of June. But it wasn’t just the Bitcoin brigade chipping in; Trump also welcomed $900,000 worth of ether, the digital coin linked to Ethereum, among other lesser coins like Dogecoin and Shiba Inu. It’s crystal clear: the crypto crowd knows where their support belongs.
jokes aside JD is a great choice, former VC, and very good on crypto. Trump 2.0 is signaling a pro tech, pro silicon valley, pro american dynamism outlook.
— nic carter (@nic__carter) July 15, 2024
The digital gold rush didn’t happen by chance. Almost $2.5 million of the haul came from some heavy hitters in the crypto world, like the Winklevoss twins, who co-founded Gemini, and Jesse Powell of Kraken fame. These are not your average Joe supporters; these are the movers and shakers of the cryptocurrency scene rallying behind Trump’s campaign.
Making waves in the news is Trump’s selection of Sen. J.D. Vance as his running mate, a move that sent Bitcoin prices soaring. Vance has never hidden his fondness for Bitcoin, with disclosures revealing he owns a substantial chunk of it. When Trump announced his pick, Bitcoin’s value surged by 8%, marking a significant leap that thrilled cryptocurrency supporters and investors alike.
Vance is no stranger to the digital asset world. He’s been a vocal advocate for revamping the regulatory landscape around cryptocurrencies, a stance that’s earned him applause from Bitcoin enthusiasts and tech moguls such as Elon Musk. With Vance at his side, Trump is signaling a new era of tech-savvy governance that promises to embrace American innovation and dynamism.
While Trump’s newfound enthusiasm for cryptocurrencies is a far cry from his earlier skepticism, he hasn’t lost his discerning eye. He’s made it abundantly clear that he draws the line at central-bank digital currencies (CBDCs). To him, CBDCs are nothing short of a threat to American liberty, a disguised mechanism for governmental overreach into personal finances.
The shift in Trump’s stance offers a fascinating glimpse into the evolving political landscape, where once-controversial digital currencies are now seen as pillars of future economic strategy. With plans to speak at a major Bitcoin conference and a promise to keep Bitcoin mining firmly within the U.S., Trump is positioning himself as a champion of the cryptocurrency revolution.
