Former president Donald Trump, once a skeptic of cryptocurrencies, has now become a prominent supporter of the industry. Despite his previous reservations and the industry's turbulent history, Trump has fully embraced the potential of the digital currency sector. His campaign is now accepting bitcoin donations, raising roughly $4 million, according to a source. Trump has criticized the Biden administration's attempts to regulate the industry, calling it a “war on crypto” and has pledged to make it easier for cryptocurrency mining companies to operate in the United States.
The cryptocurrency industry has been supported by Trump, with leaders and investors contributing millions of dollars to his campaign and related political committees. They are also promoting their candidacy to their substantial online audiences, giving them a platform to address the 20,000 expected attendees at this year's Bitcoin Conference.
However, Trump has not addressed one of the central criticisms of digital currencies: their lack of practical, real-world use beyond being a highly speculative investment. His campaign has not revealed what prompted his change of heart about bitcoin.
Republican allies have joined Trump in his shift to bitcoin. South Carolina Senator Tim Scott spoke at the conference and stated that Trump understands concerns about financial freedom, a common theme in the crypto community.
Industry leaders have been educating the Trump campaign on its political agenda and the opportunity to influence voters on the issue. His presentation included the possible industry support he could receive by endorsing the cryptocurrency.
Billionaire crypto tycoons Tyler and Cameron Winklevoss have pledged to donate $1 million in bitcoins to the Trump campaign. Cryptocurrency was also a topic of discussion during a recent fundraising event in Silicon Valley hosted by Trump's new running mate, Ohio Senator JD Vance.
Despite the resurgence of the industry and the price of bitcoin reaching an all-time high in June, many Americans remain skeptical of the cryptocurrency. A 2023 Pew Research survey found that while nearly 9 in 10 adults had heard of cryptocurrencies, 75% of those people did not believe they were safe or trustworthy. However, Trump's outreach to crypto voters aligns with his efforts to find new support in unconventional places.
English 
Español de Venezuela