Donald Trump, who is campaigning for the 2024 US presidential election, is increasingly showing support for cryptocurrencies. He recently responded to a question about the future of crypto by saying, “I think crypto has a great future,” and that the $35 trillion national debt could be paid off with crypto.
Donald Trump: “I think crypto has a great future. Maybe we’ll pay $35 trillion with it.”
First US President to Trade Bitcoin
Trump months ago Bitcoin $63,547 He started making positive statements about the country. He recently bought a cheeseburger using Bitcoin at the Bitcoin-friendly PubKey bar in New York, becoming the first US president to make a Bitcoin transaction.
The former president said at a recent event that crypto has a “great future.” Trump hinted at the possibility of using Bitcoin and cryptocurrencies to pay off the country’s $35 trillion debt, something he said at a 2024 Bitcoin event, which is what Lummis’ bill hinted at. Trump has transformed from his former crypto haters to one that would only eclipse Bitcoin maximalists.
Promise to Make the US a Crypto Hub
Donald Trump has continued his previous positive statements about Bitcoin and cryptocurrencies in a bid to win over a growing crypto-voter base, promising to make the US the “crypto capital of the world” if he is re-elected.
Meanwhile, her rival Kamala Harris made her first crypto-related commitment at a fundraiser in New York. Harris said her administration would “protect our consumers and investors while promoting innovative technologies like artificial intelligence and digital assets.”
Kamala Harris: “We will protect our consumers and investors while promoting innovative technologies like artificial intelligence and digital assets.”
Cryptocurrency Enters the Political Mainstream
While Harris has not explicitly mentioned Bitcoin or crypto, her recent statements suggest a positive stance toward crypto-friendly voters. Her latest move contrasts with her previous silence on the issue, and is also at odds with her stance of “describing the industry as a fraud,” as those who know her put it.
Cryptocurrencies appear to have entered the political mainstream, as both presidential candidates are now openly discussing Bitcoin and crypto-related policies.
The rise of crypto in US politics suggests that cryptocurrencies and blockchain technology could play a significant role in the upcoming elections. While both Trump and Harris’ positive rhetoric towards crypto suggests that regulation and policy have become a critical issue for voters, only time will tell if they have any tangible benefits.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
