- Trump’s campaign raised $25 million through crypto donations.
- The former president also launched Bitcoin-themed sneakers as part of his 2024 presidential campaign.
As a seasoned analyst with over two decades of experience in the financial sector, I find myself increasingly intrigued by the interplay between politics and digital assets, particularly Bitcoin. The recent strides made by former President Donald Trump in embracing cryptocurrency for campaign donations and launching Bitcoin-themed merchandise are noteworthy milestones that underscore the growing influence of the crypto community within mainstream politics.
2024’s much-awaited Bitcoin Conference came to a close, drawing considerable focus towards former President Donald Trump due to his growing pro-cryptocurrency views.
Previously, the Trump campaign had set up a donation page on May 21st that accepted contributions in cryptocurrencies using Coinbase Commerce as the platform for processing these transactions.
Trump raised $25 million in Bitcoin
At a recent conference held in Nashville, Tennessee, Trump announced during his keynote speech that his election campaign had managed to collect approximately $25 million ever since they started accepting cryptocurrency donations. This highlights the rising impact of the cryptocurrency sector and Bitcoin supporters within the political landscape.
Remarking on the same, Trump addressed the conference by saying,
“As a trailblazer, I’m honored to be the first significant political candidate in U.S. history to receive contributions in Bitcoin and cryptocurrencies. Surprisingly, I’ve received a substantial number of these digital donations, and I truly value this support.”
Appreciating Trump’s move, David Bailey, CEO of Bitcoin Magazine took to X and noted,
The investor who made the news
During Trump’s presidential campaign, Gary Cardone, a digital asset investor and entrepreneur, garnered noticeable attention. He made news by contributing 12.8 Bitcoins, worth approximately $852,000, to aid Donald Trump’s political efforts.
“I’m very pleased with the 12.8 Bitcoins I recently donated to the Trump Administration, a move that is unique for me. When it comes to Bitcoin, I am prepared to firmly stand my ground and defend my stance.”
He further added,
“In many ways, Donald Trump and Bitcoin enthusiasts share similarities as groundbreaking disrupters in their respective fields. Both are characterized by their tenacity, which is evident from their individual pursuits.”
What’ this Bitcoin-themed sneakers?
Moreover, Trump gained media attention again, this round being due to the release of Bitcoin-inspired shoes as a component of his 2024 election bid.
CIC Ventures LLC recently launched a special series of shoes called “Crypto President” high-tops. There will be 1,000 pairs of these shoes in a vibrant “Bitcoin orange” color, priced at $500 per pair, and an additional 4,000 pairs in luxurious black, which are available for purchase at $299 each.
1) These sneakers showcase the Bitcoin logo prominently, reflecting Trump’s aspirations for financial advancement. This daring move comes after his promise made during the Bitcoin convention in Nashville to institute a national Bitcoin depository should he be elected.
Impact on the memecoins and Polymarket
However, despite Trump’s recent initiatives, the Trump-inspired memecoin, Doland Tremp [TREMP], saw a decline of over 7% in the past 24 hours.
Additionally, the prediction market by Polymarket for the 2024 Presidential Election shows a decline in the predicted votes for Trump, dropping from 68% to 55%. Nevertheless, he continues to lead as the favorite, maintaining his position at the top of the polls despite this reduction.
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2024-08-01 13:12