Donald Trump is now cryptocurrency's 'biggest' supporter in US

“If we’re going to embrace it [cryptocurrency], we have to let them [crypto companies] be here,” Trump says

Web Desk

Regretting the flight of companies from the US owing to the state's hostilities towards cryptocurrency, Donald Trump, the 2024 presidential nominee Thursday put all his weight behind the hotly-debated digital money to cash in on the crypto community vote.

“If we’re going to embrace it, we have to let them be here,” the former US president said while speaking to a gathering of NFT holders at his Mar-a-Lago resort in Florida. 

According to NFTPlazas, Trump hosted a group of buyers who purchased at least 47 of his NFT cards, priced at $99 each to a dinner at his Mar-a-Lago estate. 

Trump, who was never a big fan of e-money, has recently discovered a passion for cryptocurrency and it has coincided with an upswell in his popularity among the crypto community. 

A survey in March carried out by crypto investment firm Paradigm unveiled that 48% of crypto investors were willing to support Trump at the polls compared with 39% favouring the current President, Joe Biden.

During the event, Trump announced that his campaign was open to receiving campaign donations in the form of Bitcoin and other crypto tokens. 

He also slammed the incumbent administration, accusing President Biden and US Securities and Exchange Commission (SEC) Chair Gary Gensler of deliberately being at loggerheads with crypto.

Analysts, who are closely monitoring Trump's crypto-politics, believe if the former president wins the November presidential election, Bitcoin will be sitting even prettier.

The Mar-a-Lago crypto gathering also comes at a time when the US House has passed a resolution condemning the US SEC’s policy on crypto banking, exposing the widening rift between pro-crypto and anti-crypto political groups.

President Joe Biden’s administration intends to veto a joint resolution that could change the cryptocurrency policy overseen by the SEC. 

On May 8, the White House criticised some House of Representatives members for trying to pass a joint resolution.