Donald Trump goes pro-crypto for election campaign

    Presidential hopeful and former U.S. President Donald Trump declared his intent to accept cryptocurrency for his campaign donations. The former president made the comments during an event at his Mar-a-Lago resort in Palm Beach, Florida.

    Trump asserted his support for digital currencies in a session with attendees, many of whom were owners of his NFTs.

    Titled the Trump Cards NFT Gala, the event saw Trump address his supporters directly and assert his position on digital currencies. During the event, Trump also responded to inquiries about using cryptocurrencies to donate to his campaign.

    He reassured attendees, “If you can’t, I’ll make sure you can.”

    Biden is anti-crypto

    He revealed his intentions to retain cryptocurrency businesses within the United States, countering what he described as the current administration’s hostile stance.

     “If crypto is moving out of the U.S. because of hostility toward crypto… well, we’ll stop it. We don’t want that,” the former U.S. president said.

    Furthermore, Trump critiqued President Joe Biden’s apparent lack of familiarity with cryptocurrencies. At one point, Trump mimicked a conversation, suggesting Biden’s unawareness, stating:

    “If you ask Biden, sir, are you for or against crypto? What’s that? What? Get me off the stage.”

    He went on to add that the Democrats are “against” cryptocurrencies.

    Say yes to Trump, say yes to crypto

    Trump further acknowledged the demand for cryptocurrencies within the U.S., stating that he was committed to ensuring the state of cryptocurrencies is “good and solid.” By advocating for a broad acceptance of various forms of digital currencies, Trump urged those in favor of such technologies to support his candidacy.

    “if you like crypto… you better vote for me,” he added.

    Trump’s pro-crypto stance has also been also been noted by analysts from Standard Chartered Bank.  According to the experts, Trump’s re-election could foster a positive regulatory environment for cryptocurrencies.

    Geoff Kendrick, the head of FX Research and Digital Assets Research at the bank, noted that a second term for Trump would likely be “bitcoin positive.”

    The post Donald Trump goes pro-crypto for election campaign appeared first on Invezz

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