Donald Trump, the 2024 presidential nominee, has strongly supported cryptocurrency. He emphasized the need to retain crypto companies in the US during a speech at his Mar-a-Lago resort in Florida, attended by NFT holders.
“We have to let them [crypto companies] be here if we’re going to embrace it,” Trump stated. He spoke to attendees who had purchased at least 47 of his NFT cards, valued at $99 each.
Historically sceptical about digital currencies, Trump has recently become a prominent advocate for cryptocurrency. This shift aligns with a growing favorability among crypto enthusiasts. A March survey by Paradigm found that 48% of crypto investors favoured Trump over the current President, Joe Biden, who garnered 39% support.
At the event, Trump also welcomed campaign contributions in Bitcoin and other cryptocurrencies. He criticized President Biden and SEC Chair Gary Gensler for opposing crypto, accusing them of deliberate conflict.
Observers suggest that a Trump victory in the November presidential election could significantly benefit Bitcoin. The event at Mar-a-Lago coincided with the US House passing a resolution that criticized the SEC’s crypto banking policies, highlighting the deepening divide between pro- and anti-crypto factions.
Meanwhile, President Biden’s administration has indicated plans to veto a joint resolution that might alter cryptocurrency policies controlled by the SEC. On May 8, the White House condemned efforts by some House members to pass this resolution.
