Donald Trump Campaign Uses Bitcoin, ETH, XRP, Dogecoin, SHIB For Election War Chest
Donald J. Trump, the first major party presidential contender to embrace Bitcoin and other cryptocurrencies, stated his campaign would accept them. Official campaign press release.
The Trump campaign's latest fundraising drive uses Bitcoin, Ethereum, Ripple, Dogecoin, and Shiba Inu. Through Coinbase Commerce, retailers may receive numerous cryptocurrencies straight into a user-controlled wallet and donate these.
The campaign's news release says the move adds “to President Trump’s already groundbreaking digital fundraising operation [and] marks the first time a major party Presidential nominee has embraced cryptocurrency for donations.” The campaign's digital fundraising operation will expand, and this is a political statement in support of Bitcoin and crypto's role in financial freedom and innovation.
The campaign strongly supports bitcoin, unlike Democratic opponents like President Joe Biden and Senator Elizabeth Warren, who are skeptical about its value and regulation. Senator Warren has called the crypto industry a ‘shadowy system’ that requires more regulation, which the press release singles out.
He advised paying Trump in bitcoin or crypto to maximize individual contributions. We have his attention. Decisions abound. We want to support this move with strong statistics and propel him forward. It's everything on the table. With 3,000 individuals contributing up to $10m in 48 hours, Trump will be blown away.
The Trump campaign says crypto donations will follow FEC rules. Similar to stock gifts, these donations will be recorded as in-kind contributions, making accounting transparent. Donors are led to a link on Trump's campaign website where they may use Coinbase Commerce to order a variety of cryptocurrencies.
As Trump's campaign resources have grown, exceeding President Biden in April fundraising, this strategic move is crucial.