In a surprising turn from his previous stance, Donald Trump is now championing cryptocurrencies in his 2024 election campaign, advocating for easier regulations and the acceptance of crypto donations, signaling a significant shift in his approach towards digital currencies.
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Trump Supports Cryptocurrency in Recent Campaign Speech
On May 9, 2024, former U.S. President and Republican candidate Donald Trump made several supportive statements about cryptocurrency during his election campaign speeches.
Various comments he made have been widely shared on social media platform X, emphasizing his advocacy for the digital currency sector.
Acceptance of Cryptocurrency Donations by the Trump Campaign
One of the key remarks from Trump's speech highlighted his campaign's willingness to accept cryptocurrency donations. When asked whether it was possible to donate to the Trump campaign in cryptocurrency, the answer was a definitive "yes."
Ending Hostility Towards Cryptocurrencies
Trump also addressed the migration of cryptocurrency businesses outside of the United States due to fear of U.S. regulations. He attributed this trend to the "hostile attitude towards cryptocurrencies" by the current administration.
Trump expressed a desire to end this hostility, emphasizing the need to create conditions that would allow cryptocurrency businesses to remain in the U.S.
Criticism of Joe Biden's Understanding of Cryptocurrencies
In his speech, Trump also criticized current President and Democratic candidate Joe Biden's understanding of cryptocurrencies.
He humorously remarked that asking Biden about cryptocurrencies would only result in Biden wanting to "be helped off the stage." Trump bluntly suggested that those who support cryptocurrencies should vote for him instead.
Donald Trump's Evolving Stance on Cryptocurrency
Although Trump was critical of cryptocurrencies in the past, his stance has softened over the years. He has even launched his own NFT collection based on the Polygon platform, which includes multiple perks.
This shift was marked by his 2022 statement about the possibility of coexisting with Bitcoin, and recent favorable opinions about the impact of his potential presidency on the cryptocurrency market by analysts like those from Standard Chartered Bank.
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