Tech
America’s First Bitcoin President: Trump Starts Receiving Cryptocurrency Donations
This article originally appeared in Bitcoin Magazine.
President Trump, in a press release published on his website Last week, he announced that his campaign to take back the White House will begin accepting donations using Bitcoin.
This announcement by his campaign is sure to fuel the fire between Trump and incumbent President Joseph Biden, who along with fellow Democratic Sen. Elizabeth Warren (D-Mass.) has spent the majority of his tenure in Washington waging a regulatory attack on all-out against the digital asset space and Bitcoin in particular.
“As our President, Donald J. Trump reduced regulations and supported innovation in the financial sector technology, while Democrats, like Biden and his official surrogate Elizabeth Warren, continue to believe that only government has the answers to how our nation leads the world,” the ad reads. “The effort to reduce government control about an American’s financial decision-making is part of a seismic shift toward freedom. Today’s announcement reflects President Trump’s commitment to an agenda that values freedom over socialist government control.”
As Bitcoin magazine noted in its Orange Party Issue, Trump’s appointment of former Coinbase vice president Brian Brook as controller of the currency was “Bitcoin’s most important forward move in U.S. history,” as it allowed banks and corporate financial operators to hold cryptocurrencies. This ruling went into effect midway through the final year of Trump’s first term, and the price of Bitcoin multiplied approximately 20-fold in the following calendar year alone.
The Trump administration has been no stranger to Bitcoin over the years, with the appointment of longtime Bitcoin and cryptocurrency advocate Mick Mulvaney as White House chief of staff, as well as PayPal’s Peter Thiel making his appeared on his transition team.
Trump also made history by being the first US president to adopt non-fungible tokens with his incredibly successful Trump Cards worn out at the end of 2022. Another historical first not to be forgotten, Melania Trump was the first first lady to tweet on Bitcoin creator Satoshi Nakamoto’s contribution to the financial system in early 2022, in reference to the January 3rd anniversary of the Genesis Block that started Bitcoin blockchain.
In January During a campaign stop in New Hampshire, Trump promised that, if elected, he would not allow the Federal Reserve to create a central bank digital currency. “Tonight I will also make another promise to protect Americans from government tyranny,” Trump said. “As your president, I will never allow the creation of a digital currency by the central bank.”
As for campaign donations themselves, the announcement specified that donors could send Bitcoin and other cryptocurrencies to the Trump 2024 campaign via Coinbase, the only publicly traded one. Bitcoin exchange in the United States.
“Biden surrogate Elizabeth Warren said in a cryptocurrency attack that she was building an ‘anti-crypto army’ to limit Americans’ right to make their own financial choices,” the ad continues. “MAGA supporters, now with a new cryptocurrency option, will build a cryptocurrency army leading the campaign to victory on November 5th!”
For details on how to donate to the Trump 2024 campaign, visit the campaign website Here.
Bitcoin MagazineBitcoin’s most trusted voice, is proudly at the forefront technology and economics, telling stories and presenting platforms to people using code to free humanity from government money. She will collaborate with Return on a series of articles about Bitcoin and its essential place in the modern world.