Trump’s Campaign Accepting Crypto; Its Influence On US Market?

Donald Trump, the presidential nominee announced the acceptance of a wide range of cryptocurrency donations for campaigns.

As the elections near, the cryptocurrency craze is booming, and Donald Trump could be one of the main factors behind it. According to Trump’s website, to make America great again, Donald Trump will accept cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), and Shiba Inu (SHIB).

Donate to the Presidential Campaign Through Cryptocurrencies

Donald Trump, the crypto supporter will now accept a wide range of cryptocurrencies including BTC, Ethereum (ETH), Solana (SOL), and XRP. Interestingly, the presidential campaign will also accept memecoins like DOGE and SHIB.

Bitcoin Magazine took to X to announce Trump’s new step to make America great again as well as enhance the value of cryptocurrency in the US market.

Trump’s effort to minimize the control of the government on America’s financial decision-making, especially in the crypto space. He is ready to embrace new technologies and safeguard the nation from Biden’s failures.

Trump’s Love For Digital Assets 

Donald Trump declared himself a ‘crypto candidate’ in the Mar-a-Lago event which was organized in early May 2024. Introduction of MAGA token to having dinner with NFT enthusiasts, Trump represents himself as a key crypto supporter.

At the Mar-a-Lago event, individuals who purchased at least 47 NFTs, each costing $99, got the chance to have dinner with Donald Trump.

He is fighting for a better regulatory environment for crypto businesses and made NFTs hot again when the NFT marketplace lost its steam. The acceptance of crypto and memecoins for campaigns strengthens the value of digital assets in the US financial market.

How Trump’s Power can Change the Narrative of Cryptos in the US?

Currently, the US is the top player in the list in terms of revenue in the cryptocurrency market. According to a Statista report, the US market hit $18.0 Billion in revenue in cryptocurrency and is projected to reach $23.2 Billion by 2024 end.

US revenue in cryptocurrency I Source: Statista

Cryptocurrency has firmed its position in the United States financial market as well as in the 2024 presidential election. As per the Grayscale report, 40% of the investors in the US expect the involvement of crypto in their financial portfolio.

Majority of the Generation Z and Millennials own cryptocurrency and consider blockchain technology as the future of finance. In case Donald Trump wins the election, the utilization of digital assets and digital collectibles would surge.

The United States may experience a better regulatory environment for crypto businesses with less governmental involvement. Moreover, crypto enthusiasts would be more likely to invest in digital assets if clearer policies are set.

Adarsh ​​Singh

Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.