Believe it or not, Donald Trump has started to accept cryptocurrency donations for his 2024 US presidential campaign. This is quite the surprise, considering his past negative stance on Bitcoin and crypto in general.
Trump's website shows that not only is he accepting Bitcoin, but a variety of other cryptocurrencies as well, including Ethereum, Solana, stablecoins, and even some meme coins. Yes, apparently Donald Trump will accept your Dogecoin and Shiba Inu.
In a previous article we discussed how Trump pulled a complete 180 on crypto over the past few years, with the launching of his own NFT collection in 2022, and publicly stating a couple of weeks ago that "he's fine with it" (crypto) now.
This was quite the U-turn, considering Trump is on record saying that crypto "seems like a scam" and that he dislikes it because it competes with the US dollar. He now seems to be catching up with some of his rival candidates, who have already become crypto-friendly.
Robert Kennedy was the first contender in the presidential race to accept crypto donations, and often speaks in favor of the technology. In fact, he recently stated at a campaign rally that he would put the entire US budget on blockchain if elected president.
Given Trump's about-face on crypto we have to ask ourselves the question, is he genuinely in favor of cryptocurrencies, or is he merely trying to earn the favor of a cohort of voters that Biden has snubbed?
Now that El Salvador has made Bitcoin legal tender, and Argentina has made it legal to settle contracts with crypto, the upward trend of politicians supporting this new tech continues worldwide, with Trump only being the latest example.
Borderless Crypto
Considering the borderless nature of cryptocurrencies, using them to accept political donations brings up an interesting question. Not only could American citizens donate to Trump's campaign, but anybody, anywhere in the world could theoretically donate if they had internet access.
That said, according to Trump's website, only US citizens can make donations, supposedly after identifying themselves, which essentially defeats the purpose of cryptocurrency anyway. But I believe that in the future we will see local politicians accepting crypto donations from anyone, regardless of their geographic location.
The ultimate question is can we root for both cryptocurrency and our country at the same time? After all, a fiat currency is a big component of what keeps a nation unified, and cryptocurrency competes directly with it. The US dollar may be the last thing holding America together at this point.
As we discussed in a prior post, at this point the best course of action is to focus on improving our local communities, rather than engaging in federal politics. Your crypto would probably be better spent on local politicians, who intend to keep your community safe and sane as the nation falters.
If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the HIVE blockchain. You can also follow me on InLeo for more frequent updates.
Until next time...
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