Former U.S. President Donald Trump insists that the United States should strive for nothing less than dominance in the cryptocurrency industry. In a post on Truth Social, a social media platform owned by Trump Media and Technology Group (TMTG), Trump declared, “Our country must be the leader in the field, there is no second place.” He expressed his support for cryptocurrency companies and the growing industry, while also taking a swipe at current President Joe Biden, whom he is set to compete against in the 2024 presidential race. Trump’s remarks were made ahead of his speech at the Libertarian Party’s National Convention in Washington.
Trump’s recent positive stance on cryptocurrency has sparked speculation in the industry about his potential victory. According to New York-based crypto prediction platform Polymarket, Trump has a 56% chance of winning the election, while Biden holds a 38% chance.
In addition to his public endorsements of crypto, Trump’s presidential campaign announced that it would accept cryptocurrency donations. The campaign launched a fundraising page on May 21, allowing eligible individuals to donate in crypto using Coinbase Commerce. The website featured logos for various cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Shiba (SHIB), XRP (XRP), USD Coin (USDC), SOL (SOL), and 0x (ZRX).
Furthermore, it has been reported that Trump has met with crypto enthusiasts. Those who purchased his “Mugshot” non-fungible tokens (NFTs) had the opportunity to dine with him at his Mar-a-Lago residence on May 8. The dinner was part of the agreement when buying the digital trading cards, which feature Trump’s mug shot taken during his surrender at the Fulton County Jail in Georgia.
With the Securities and Exchange Commission (SEC) facing a challenging battle against crypto’s legal firepower, the cryptocurrency industry eagerly awaits the outcome of the U.S. election, with Trump’s positive stance on crypto raising expectations.