Quick Take:

• Former President Donald Trump commits to accepting cryptocurrency for campaign contributions.
• Trump’s remarks come during a gathering with NFT buyers on his day off from trial.
• He pledges to keep crypto businesses in the U.S. and criticizes Biden’s stance on cryptocurrency.

Former President Donald Trump made headlines today by declaring his intention to allow cryptocurrency donations for his upcoming campaign. Speaking at a gathering with purchasers of his NFTs, Trump assured attendees that his campaign would facilitate contributions in digital currencies.

In video clips shared by NFT creator and influencer Frank Degods, Trump can be heard affirming his commitment to crypto-friendly policies. “If you can’t [donate using crypto], I’ll make sure you can,” Trump stated, expressing his willingness to accommodate cryptocurrency donations to his campaign.

Asserting his grasp of the crypto landscape, Trump contrasted his stance with that of President Joe Biden, claiming Biden’s lack of understanding of cryptocurrencies. Trump urged crypto enthusiasts to support his cause, emphasizing his alignment with the crypto community.

Trump’s remarks came during a gathering he organized to meet with buyers of his “Mugshot Edition” NFTs, with attendees individually purchasing over 47 NFTs priced at $99 each. Trump attributed the resurgence of interest in NFTs to his initiative, stating, “We did it when NFTs were not hot. We made NFTs hot again.”

Addressing concerns about the migration of crypto businesses from the U.S. due to regulatory uncertainty, Trump pledged to retain such enterprises within the country. He emphasized the importance of embracing crypto and ensuring a conducive environment for crypto businesses to thrive.

Following Trump’s comments, the “Jeo Boden” memecoin, a token parodying President Joe Biden, experienced an 18.5% surge in value over the past 24 hours. Trump expressed skepticism about the coin’s market capitalization, indicating his disapproval of such investments.

Notable figures within the crypto community reacted positively to Trump’s statements, acknowledging the evolution of his stance on crypto. Avichal Garg, Co-founder of Electric Capital, praised Trump’s newfound support for crypto and speculated about the political implications of Biden’s anti-crypto stance.

As Trump gears up for the upcoming U.S. presidential election in November 2024, his endorsement of cryptocurrency marks a significant development in his campaign strategy. Despite the attention garnered by his announcement, the Trump campaign has yet to provide further details or responses to inquiries regarding his crypto policies.