Donald Trump opens cryptocurrency fundraising page, Internet infers Joe Biden is '100% losing now'

WASHINGTON, DC: Donald Trump's campaign breaks new ground by announcing on Tuesday, May 21 that they are accepting donations in cryptocurrency.

This move from the former president's campaign has expanded their fundraising efforts to include digital currency, according to AP News.

Donald Trump's campaign had successful fundraising in April

Trump supporters can contribute to the campaign through its joint fundraising committees via any cryptocurrency approved by the Coinbase Commerce product, as per the campaign's statement.

These contributions will adhere to the Federal Election Commission (FEC) limits and disclosure requirements.

Trump announced the launch of the crypto donation portal after a successful fundraising month for his campaign in April compared to Joe Biden's campaign.

In his Truth Social post on Tuesday, May 21, he wrote, "Trump Campaign April fundraising far exceeds the Radical Left Democrats. TRUMP, $76,000,000. Radical Left & Crooked Joe, $51,000,000. MAGA2024!"

However, the President's campaign retains a cash-on-hand advantage.

Donald Trump previously said he is 'not' a fan of Bitcoin or cryptocurrencies

The Trump campaign emphasized the 77-year-old politician's commitment to deregulation as part of their rationale for launching cryptocurrency donations.

However, Trump previously expressed his concerns about cryptocurrency while in office.

In 2019, the former president said he was “not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air."

"Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity," he added.

Biden administration's approach to cryptocurrency

Explaining his cautious approach, Trump declared earlier this year that if he were re-elected, he would oppose the creation of a central bank digital currency as he labeled it a “dangerous threat to freedom.”

Meanwhile, the Biden administration has adopted a more cautious approach toward cryptocurrency.

Biden signed an executive order in 2022 directing federal agencies to evaluate the risks and benefits of cryptocurrencies.

This directive aimed at cryptocurrency's financial stability, consumer protection, illicit activity, and responsible innovation.

Although Trump's campaign intends to comply with US election laws, the anonymous nature of cryptocurrencies makes it challenging to verify that the funds are coming from the claimed sources.

Internet divided over Donald Trump's launch of cryptocurrency fundraising page

Reacting to the Trump campaign launching a crypto donation portal, one user on X (formerly Twitter) wrote, "Good way to get money from foreign entities."

One user wrote, "Donald Trump will get more crypto donations than Biden That's what I'm sensing among the crypto community, many being Trump Supporters," while another user tweeted, "Biden is 100% losing now."

"In case it needs to be said explicitly, don't voluntarily give politicians money. And definitely don't give them bitcoin!" a netizen commented.

A netizen tweeted, "They are gonna use this as fuel for some kinda 'we don’t know where the donations are coming from' talk."

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.