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Crypto: Donald Trump Courts Donors for Campaign Funds

Tue 25 Jun 2024 ▪ 3 min of reading ▪ by Mikaia A.
Getting informed

The fishing has been good for Donald Trump in the crypto community. By using bitcoin donations, the former president has better chances of reclaiming the Oval Office. Crypto enthusiasts see him as a champion of mass crypto adoption. This cunning strategy could well transform the landscape of political campaigns in the United States.

Donald Trump

Donald Trump and crypto donations: A winning alliance?

Donald Trump’s relentless effort to woo crypto enthusiasts is bearing fruit, thanks notably to cryptocurrency donations.

According to the blockchain analysis company Breadcrumbs, on-chain crypto donations for Trump’s campaign amount to around $60,000. This amount, collected from 218 donors, seems modest. However, donations via centralized crypto exchanges, such as Coinbase, are seeing a significant increase.

James Delmore, an analyst at Breadcrumbs, explains:

On-chain donations are not easy to make, hence the influx of funds through centralized exchanges”.

The complexity of on-chain transactions may deter some donors, but it hasn’t slowed down Trump’s campaign momentum.

Significant donations, such as the $2 million in bitcoins (BTC) offered by the Winklevoss twins, well illustrate this trend.

Cryptos sent via Ethereum, Base, and Polygon (totaling around $59,000) represent a fraction of the $260 million in funds raised, but mark a symbolic turning point towards mass crypto adoption.

The impact of cryptos on Trump’s campaign

The announcement last May by Donald Trump’s campaign of accepting cryptocurrency donations generated genuine excitement. Positioned as a fervent advocate of cryptos, Trump has caught the attention of bitcoin and other digital asset enthusiasts.

While the American regulatory landscape remains uncertain with several lawsuits against cryptocurrency companies, Trump stands out with a pro-crypto stance.

The months leading up to the elections have seen attempts in Congress to pass favorable laws for cryptocurrencies. This dynamic could work in favor of the former president, with donors hoping for clearer and more favorable policies for the crypto industry.

By incorporating cryptocurrency donations into his strategy, Trump shows he is ready to innovate and embrace new financial technologies. This approach could well give him a decisive advantage in the presidential race.

With growing support for cryptocurrencies, Trump’s election could well encourage more Americans to venture into the crypto industry. Is the bitcoin rush upon us?

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.