Key Points
- Former President Donald Trump has shown support for cryptocurrencies, particularly Bitcoin and NFTs.
- Polymarket data indicates Trump leading with 62.1% support, largely due to his pro-Bitcoin stance.
Former U.S. President Donald Trump has expressed his support for cryptocurrencies, notably Bitcoin and NFTs, in the lead-up to the U.S. presidential election.
Despite previously criticizing Bitcoin as “not money” and “highly volatile,” Trump has not completely dismissed digital assets. He has shown interest in NFTs, launching his first series of digital collectibles in December 2022.
Trump’s Bitcoin Stance
Trump recently used X (formerly Twitter) to express his support for Bitcoin, marking the anniversary of Bitcoin’s white paper. He also criticized Vice President Kamala Harris’s stance on cryptocurrency.
Erik Voorhees, CEO of ShapeShift, commented on Trump’s remarks. Some praised Trump for his proactive stance on Bitcoin, including trader and investor Jason Pizzino.
Cryptocurrency in the Election
According to Polymarket, Trump has 62.1% support, largely due to his pro-Bitcoin stance. This comes as Bitcoin’s value slipped to $69,544.97 after reaching a peak of $73,569.
A study by Consensys and HarrisX revealed that nearly half of the surveyed voters consider a pro-crypto stance influential in their voting decisions. This interest was stronger among crypto owners, with 92% planning to vote and 85% prioritizing crypto as a key issue.
In response to this, Trump has actively engaged with crypto supporters, positioning himself as a pro-Bitcoin candidate. He has released Bitcoin-themed sneakers and a fourth series of NFT trading cards, and launched the World Liberty Financial.
In contrast, Harris’s outreach to the crypto community has been limited, including her “Crypto for Harris” campaign and a pro-blockchain speech at The Economic Club of Pittsburgh.
It remains to be seen whether Trump’s crypto-focused strategy will be successful in the final vote.
