Politics

Donald Trump campaigns for votes from the crypto community with crypto-friendly policies

Donald Trump promotes pro-Bitcoin positions in the US election campaign and gains prominent crypto enthusiasts.

Eulerpool News Jul 4, 2024, 5:47 PM

Since his last presidency, Donald Trump has made a remarkable about-face on the issue of cryptocurrencies. While he once referred to them as "hot air" and "dangerous," he now presents himself in the US election campaign as a defender of the crypto industry. This strategy aims to win over the votes of the crypto community, and he has already managed to convince some prominent Bitcoin enthusiasts.

Trump Seeks Presidency Again and Emphasizes His Support for Cryptocurrencies.

This crypto-friendly stance has made Trump the preferred candidate for those seeking regulatory clarity and support for blockchain technology and cryptocurrencies. According to a survey by Grayscale, cryptocurrencies play a role in the voting decision for about one-third of eligible US voters. However, whether Trump's promises are enough to convince crypto enthusiasts remains to be seen.

Prominent crypto enthusiasts such as star investor Cathie Wood and the Winklevoss twins have already expressed their support for Trump. Wood, a well-known Bitcoin advocate, stated at a conference in Las Vegas that she would vote for Trump for economic reasons. The Winklevoss twins, founders of the crypto exchange Gemini, each donated one million US dollars in Bitcoin to Trump's campaign, citing his pro-crypto stance as their reason.

These donations are seen as a strong signal of support for the entire crypto industry. Analysts from the cryptocurrency exchange Bitfinex emphasized that Trump is increasingly being perceived as a pro-innovation candidate within the crypto and TradFi community.

However, Trump's crypto-friendly policies seem to resonate less with ordinary private individuals. A survey of participants at the Bitcoin convention BTC-Prague showed that his crypto positions are not crucial for many. Some respondents expressed concerns about Trump's ideology and emphasized that cryptocurrencies are not the only factor in their voting decisions.

This general political disillusionment and doubts about Trump's election promises are also reflected in the responses. Many believe that his promises regarding crypto are just marketing and that he will not fulfill them.

While American Bitcoin elites are convinced of Trump's crypto ambitions, the average citizen remains skeptical. However, this is unlikely to be decisive for the U.S. election in November.

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