Donald Trump embraces cryptocurrencies: campaign now accepts Bitcoin and Dogecoin for donations

On May 21, former U.S. President Donald Trump's presidential campaign launched a fundraising page allowing federally authorized donors to contribute using cryptocurrency through Coinbase Commerce.

Trump's embrace of cryptocurrencies stands in stark contrast to the current administration's stance on digital assets.

Trump campaign accepts up to 8 cryptocurrencies

According to the campaign announcement, supporters can visit the designated website to submit Donations to the Trump campaign using cryptocurrencies. All contribution limits and disclosure requirements for crypto donations will comply with Federal Election Commission regulations.

In the ad, Trump's campaign says he aims to "limit government control over Americans' financial decision-making." He also views the acceptance of cryptocurrency donations as reflecting his “commitment to an agenda that values ​​individual freedom over increased socialist government control.” "

“Biden surrogate Elizabeth Warren said in an attack on cryptocurrency that she is building an 'anti-crypto army' to restrict Americans' right to make their own financial choices. MAGA supporters, now endowed of a new cryptocurrency option, will build an armed cryptocurrency, leading the campaign to victory » November 5! is reading Advertisement.

The statement referencing MAGA is particularly interesting, given that MAGA is a Trump-themed coin. He seems to want to symbolize the campaign's adoption of cryptocurrencies through this asset.

The campaign accepts many cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH) and Solana (GROUND), USDC, XRP, Dogecoin (DOGE), 0x (ZRX) and Shiba Inu (SHIBA). Donors can give custom amounts or choose from predefined options such as $20.24, $2,024, $45, $47 and $4,547. The numbers 45 and 47 represent the presidential campaign message that he is the 45th president of the United States and aims to become the 47th president.

Learn more: gitcoin | Everything you need to know about the famous donation platform

However, it is important to note that although the ad claims Trump is the "first major party candidate" to accept crypto donations, he is not the official candidate until July. Moreover, in 2015, before Senator Rand Paul Bitcoin donations from the Republican Party to his presidential campaign.

The move follows a promise Trump made at a recent event at Mar-a-Lago. He assured his followers that they could donate cryptocurrencies. He also pledged to take a more welcoming approach to the cryptocurrency sector, calling current U.S. regulatory measures “hostile.”

His current crypto-focused policy move comes as President Joe Biden's administration takes a tougher stance towards the digital assets sector. This change is notable, given that Trump was skeptical of cryptocurrencies During his first presidency from 2017 to 2021.

However, many believe that a Trump presidency could bring positive prospects for the crypto industry. BeInCrypto previously reported that Jeffrey Kendrick, a researcher at Standard Chartered, indicated that the Trump administration may adopt less stringent crypto regulatory measures than the current Biden administration.

This potential policy change could encourage foreign official buyers of U.S. Treasuries to explore alternative financial assets such as Bitcoin. Such exploration could drive up its price.