- Donald Trump has repeatedly touted his support for crypto on the campaign trail as a direct contrast to Joe Biden and the Democrats.
- Trump has failed to offer any concrete policy proposals associated with his newfound support for crypto.
Trump’s Crypto Support High on Enthusiasm But Low on Substance
Donald Trump has made his newfound support for crypto a major element of his campaign for president.
The Trump campaign recently announced that it was accepting donations in any tokens supported by Coinbase.
Some of the highest volumes of donations come through the popular memecoin tokens, Dogecoin (DOGE) and Shiba Inu (SHIB).
Trump’s support for crypto is in sharp contrast to the opposition from President Joe Biden and other important Democrat politicians, such as Senator Elizabeth Warren.
The Trump campaign has identified crypto as a campaign issue where they can influence key swing votes from young people and communities of color.
Over 20% of voters in six swing states, which is crucial to winning the election, believe that crypto is a major political issue.
A recent Paradigm poll found that 48% of crypto owners support Trump, 39% support Biden and 13% are undecided.
However, Trump’s crypto campaign is devoid of solid policy proposals beyond vague promises to stop the industry’s excessive regulation.
Trump recently touted his support for crypto at a high-profile fundraiser of tech industry luminaries in San Francisco.
Trump’s presence in the crypto industry has also involved the creation of NFTs and tokens that have led to significant returns for investors.
Trump Backs Crypto at Swanky Tech Fundraiser
Trump recently reinforced his support for crypto and attacked the excessive regulation of the industry at a fundraiser in San Francisco.
Tech venture capitalists David Sacks and Chamath Palihapitiya hosted Trump in the swanky Pacific Heights neighborhood, where he raised $12 million.
Traditionally an extremely liberal city, the tech industry in San Francisco has grown concerned about the heavy regulation of tech and crypto by the current administration.
The event was also attended by the crypto investor Winklevoss twins and executives from the Coinbase exchange.
Trump again offered little in the way of concrete policy proposals for crypto, but he was vocal in his support for the industry and his opposition to the current excessive regulation.
President Trump made clear that the Biden-Gensler crusade against crypto will grind to a halt within one hour of a second Trump administration.
– Jacob Helberg, a Palantir employee, stated.
Trump Brand Crypto Makes Impressive Gains
Trump has made a number of waves in the crypto market since announcing his support for the industry.
His original foray into crypto was the successful sale of limited edition NFT trading cards.
His campaign then began accepting donations in crypto tokens through the Coinbase exchange.
A number of PoliFi tokens unassociated with the campaign have also appeared since Trump’s entry into the crypto community.
TRUMP (MAGA) has risen dramatically in price, as many believe that it will be a popular platform for making donations to the Trump campaign.
