Bitcoin
Trump Now Accepts Bitcoin Donations, Fulfilling Crypto Promise
In his bid for a second term, former President of the United States, Donald Trump, announced Tuesday that he is now accepting cryptocurrency payments through its official website. According to a press release, the crypto donations feature is powered by crypto exchange Coinbase.
“This addition to President Trump’s already innovative digital fundraising campaign marks the first time a major party presidential candidate has embraced cryptocurrency for donations,” it reads.
According to the webpage, Trump accepts donations in popular cryptocurrencies such as Bitcoin, Ethereum, Dogecoin, Solana, and more. While other presidential candidates accept crypto donations, the breadth of assets accepted by the Trump campaign is remarkable, extending far beyond common cryptocurrencies. Meme coins such as Shiba Inu and the cryptocurrency XRP are also among those accepted.
At an event for holders of his NFT project, Trump said earlier this month that he’s “good” at crypto now, despite having already spoken out against Bitcoin. In 2021, for example, he said that Bitcoin “looks like a scam” And lamented what he claimed was another currency competing against the dollar’s supremacy.
Trump, however, has progressively dabbled in digital assets. Trump Trading Cards, Polygon-based NFTswere first released in late 2022. And it was a Mar-a-Lago event for said NFT holders, who spent thousands of dollars to attend, that ultimately sparked Trump’s recent pro-crypto comments.
Trump’s vocal support for cryptocurrencies may also be influencing the digital asset market in other ways. How analysts speak political pressure at the US Securities and Exchange Commission, the odds of approval for spot Ethereum ETFs have soared this month.
“Like our president, Donald J. Trump has reduced regulations and championed innovation in financial technology, while Democrats, like Biden and his official replacement, Elizabeth Warren, continue to believe that only government has the answers about how our nation leads the world,” Trump told the press. release readings.
Meanwhile, a Solana-based company inspired meme coin by the former president extended weekly earnings. As crypto has come to the political forefront in America, the token rose 150% last week to $1.30, according to CoinGecko.
After completing the necessary requirements on Trump’s website, users are directed to a Coinbase Commerce page that includes options for MetaMask and Coinbase Wallet, among other self-custodial wallets.
As Trump’s crypto push materializes, a politically connected crypto executive suggested that crypto skeptics on Capitol Hill, like Elizabeth Warren (D-MA), would feel the pressure. “Liz had an army. We have a hulk,” said Messari CEO Ryan Selkis, who also spoke at Trump’s recent Mar-a-Lago event.
Editor’s note: This story was updated after publication with additional details.