crypto for all
A
A

The unexpected passion of Donald Trump for cryptos: True love or electoral strategy?

Tue 28 May 2024 ▪ 4 min of reading ▪ by Luc Jose A.
Getting informed Trading

Donald Trump re-emerges with bold promises in favor of cryptocurrencies, just in time for the 2024 presidential elections. Committed to protecting the rights of crypto holders and opposing CBDCs, Trump catches the attention of tech-savvy voters. This pro-crypto stance, well-received by some, still leaves room for doubt. Is it a genuine conviction? Or is it an electoral strategy to attract a new voter base?

Crypto : Le soutien de Trump : engagement ou ruse ?

Trump’s Pro-Crypto Promises

Donald Trump recently reaffirmed his support for cryptocurrencies in a statement that made an impact. The former U.S. president and candidate for a new term promised to protect the rights of crypto users and oppose the creation of a central bank digital currency (CBDC).

“I will support the right to self-custody. To the fifty million crypto holders of the nation, I say this: I will keep Elizabeth Warren and her henchmen away from your bitcoins, and I will never allow the creation of a central bank digital currency,” he asserted. This statement directly targets the restrictive policies advocated by some members of Congress and shows Donald Trump’s commitment to defending the interests of crypto users against strict government regulations.

Additionally, Donald Trump made a bold promise concerning Ross Ulbricht, the founder of the dark web black market Silk Road, currently incarcerated. “If you vote for me, on the very first day, I will commute Ross Ulbricht’s sentence to time served. He has already served 11 years, and we’re going to send him home,” he declared. This proposal sparked a strong reaction in the crypto community, with Ross Ulbricht being seen by many as a pioneer in the cryptocurrency market.

Trump Pro-Crypto: Political Strategy or Genuine Commitment?

Donald Trump’s pro-crypto stance seems to have improved his electoral prospects. According to Polymarket, a crypto-based prediction platform, Donald Trump has a 56% chance of winning the election, compared to 38% for Biden. This surge in the polls is largely attributed to his recent statements and actions in favor of cryptocurrencies.

The American statesman vying for a new term now accepts crypto donations for his campaign. He has become the first major candidate to adopt this approach, likely seeking to attract a new base of young and tech-engaged voters.

However, the question of the sincerity of his promises remains. According to the fact-checking platform PolitiFact, Trump did not honor more than half of the 102 promises made during his 2016 presidential campaign. He only fulfilled 24 commitments and made 23 compromises. These numbers cast doubt on the reliability of his new pro-crypto promises.

Observers wonder if it’s a genuine interest of Donald Trump in cryptocurrencies or simply a political maneuver. Only time will tell if his actions will follow his words.

Maximize your Cointribune experience with our 'Read to Earn' program! Earn points for each article you read and gain access to exclusive rewards. Sign up now and start accruing benefits.


Click here to join 'Read to Earn' and turn your passion for crypto into rewards!
A
A
Luc Jose A. avatar
Luc Jose A.

Graduated from Sciences Po Toulouse and holder of a blockchain consultant certification issued by Alyra, I joined the Cointribune adventure in 2019. Convinced of the potential of blockchain to transform many sectors of the economy, I committed to raising awareness and informing the general public about this ever-evolving ecosystem. My goal is to enable everyone to better understand blockchain and seize the opportunities it offers. Every day, I strive to provide an objective analysis of the news, decipher market trends, relay the latest technological innovations, and put the economic and societal issues of this ongoing revolution into perspective.

DISCLAIMER

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.