Crypto Backs Donald Trump: $4 Million War Chest In Bitcoin, XRP For Re-election
26 Luglio 2024 - 5:30AM
NEWSBTC
Former President Donald Trump is set to deliver a keynote address
at the 2024 Bitcoin Conference in Nashville, Tennessee, this
weekend, amid growing speculation that Trump may announce Bitcoin
as a strategic reserve asset for the United States. This move could
have a significant impact on the entire cryptocurrency industry.
Bitcoin Contributions Support Trump and Vance’s Platform According
to a CNBC report, Trump has raised over $4 million in campaign
contributions from a variety of digital assets, including Bitcoin,
Ethereum (ETH), XRP, Circle’s USDC stablecoin, and various
memecoins, ahead of his highly anticipated appearance at the
conference. Per the report, the contributions were made
through the “Trump 47” joint fundraising committee, which raised
over $118 million between April 1 and June 30. Related Reading:
Ethereum Whales Rapidly Accumulate ETH Amid Price Decline The
report also indicates that at least 19 donors contributed more than
$2.15 million in Bitcoin to the committee, with contributions from
12 states, including some considered “key battleground
regions.” CNBC found that donors’ occupations ranged from
housewives to US military officers, missionaries, painters, sales
representatives, and State Department security technicians.
Crypto figures like the Winklevoss twins, Tyler and Cameron,
founders of the US-based crypto exchange Gemini, each contributed
over $1 million in Bitcoin. At the same time, Mike Belshe, the CEO
of digital asset security company BitGo, donated $50,000 in the
cryptocurrency. These contributions reflect the growing
support for Trump within the crypto industry, which represents a
significant shift from his previous stance during his time in the
White House. Support Behind Trump’s 2024 Bid Trump’s pivot towards
a pro-crypto stance has been gradual. Still, it has gained momentum
in recent months with moves such as launching his non-fungible
token (NFT) collection on the Solana blockchain in April, which has
since made increasingly bullish comments on cryptocurrency.
Furthermore, the former president’s appearance at the Bitcoin
Conference in Nashville, where he will also host a campaign
fundraiser, is viewed as a strategic move to solidify his position
as the pro-crypto candidate for the 2024 presidential
election. The report noted that the event’s tickets range
from $60,000 per person for a photo with Trump to $844,600 per
person for a seat at a roundtable with the former president.
Related Reading: Debunking Doubts: How XRP Could Achieve A 3-Digit
Surge — Analyst The former president’s support for self-custody of
cryptocurrencies, his vow to defend the rights of those who choose
to do so, and his pledge to keep Senator Elizabeth Warren and “her
goons” away from Bitcoin holders have further endeared him to the
crypto community. Trump’s decision to name Ohio Senator JD Vance as
his running mate has also been viewed as a win for the crypto
sector. Vance has advocated for looser regulation of
cryptocurrencies and disclosed his holdings of Bitcoin. At the time
of writing, the largest cryptocurrency on the market is struggling
to find support at the $65,130 level following a 2% price drop in
the early hours of Thursday’s trading session. Featured image from
DALL-E, chart from TradingView.com
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