Key Points
- The Trump campaign announced on Tuesday that it will start accepting crypto donations.
- According to the campaign, MAGA supporters will “build a crypto army.”
Donald Trump’s Presidential campaign announced on May 21 that it will start accepting crypto donations. The move is mirroring support and solidarity with all opponents of the “socialistic government control” over the US financial markets, notes CNBC.
According to the official notes in a press release, supporters of former US President Donald Trump can donate using “any cryptocurrency accepted through the Coinbase Commerce product.”
The same notes reveal that this decision comes amidst Trump’s groundbreaking digital fundraising operation and marks the first time a major party Presidential nominee embraces crypto for donations.
The press release also stated that contribution limits and disclosure requirements for crypto donations will follow Federal Election Commission regulations.
The campaign also said, as quoted by CNBC, that MAGA supporters, now with a crypto option, will build a crypto army, moving the campaign to victory on November 5.
It also addressed “Biden surrogate” Elizabeth Warren who said in an attack to crypto that she was building an “anti-crypto army” to restrict Americans’ right to make their own financial choices.
The reference addressed a post on X by Warren dating back to March 29, 2023, when she said that she is in the anti-crypto fight to put the government “on the side of working families.”
I’m in this fight to put our government on the side of working families. Join our re-election campaign today: https://t.co/KuZwvrwkqT pic.twitter.com/fCUcqE9PZM
— Elizabeth Warren (@ewarren) March 29, 2023
A new source of potential funds for the Trump campaign
The new decision was touted by Trump at the beginning of this month, when the former US President appeared in a meeting to tell a group of buyers for his NFTs that the crypto persecution days will be over.
He continued and told the crowd that President Joe Biden does not even know what crypto is. He told people that if they like crypto in any form and if they are in favor of crypto, they should vote for him and he promised crypto donations for the Presidential campaign.
Now, the decision opens a new source of potential funds for the campaign, which still lags Biden in cash on hand, even as it outraised the Democratic incumbent in April, CNBC notes.
Crypto acceptance is only the latest move in a string of Trump’s efforts to support the crypto community.
Earlier this month, Forbes wrote an article highlighting how the former president of the US and the Federal Reserve could unleash $4 trillion in Bitcoin, sending the token to $200k by 2025.
