Former President Donald Trump team has raised over $4 million in several digital currencies. According to reports, Bitcoin occupies the top position amongst other cryptocurrencies used for donations.
This development marks a significant shift in political fundraising strategies.
Donald Trump Campaign Embraces Digital Currency
Donors also prefer other digital coins like Ethereum, XRP, and USDC. Last week, the campaign team reported about $3 million in crypto donations.
19 people among the donors gave over $2.15 million in Bitcoin. The data shows that some big names in crypto enthusiastically supported the course.
For instance, the Winklevoss twins, known for their Bitcoin ventures, gave $1 million in Bitcoin each. However, Bloomberg reported that they got some of the money back due to donation limits.
Another donor is Kraken’s co-founder, Jesse Powell, who donated almost $845,000 in Ethereum. Other influential figures who joined the crypto donation wave include Ryan Selkis, the former Messari CEO, who contributed $50,000 to USDC.
Also, Ripple’s Chief Legal Officer, Stuart Alderoty, donated $300,000 in XRP. These high-profile donations highlight the crypto industry’s interest in Trump’s campaign.
Furthermore, the “Trump 47” joint fundraising committee reported impressive numbers. From April to June, they raised over $118 million, which is used to support Trump’s campaign, the Republican National Committee, and related groups.
Trump’s Exclusive Events and High-Ticket Prices
In addition to the ongoing donations, Trump’s team is getting creative with fundraising events. They’re planning a private roundtable in Nashville at the upcoming Bitcoin Conference 2024.
To attend, supporters must donate $844,600, which gives them a chance to take a photo with Trump. In addition to raising supporters’ funds, the campaign sells event tickets. Individual tickets cost $60,000, while couples can attend for $100,000.
These exclusive events aim to attract top-tier donors and crypto enthusiasts. Further, the campaign launched a fundraising page on Coinbase Commerce in May.
This move will enable supporters to make donations in crypto, such as Bitcoin BTC, Solana SOL, USDC, XRP, Ethereum ETH, Dogecoin, 0x, and Shiba Inu.
Trump’s recent interest in cryptocurrencies has led people to speculate about his plans. For instance, some wonder if he might push for Bitcoin as a strategic reserve asset if re-elected.
Also, there are talks about Wyoming Senator Cynthia Lummis introducing a Bitcoin Reserve Bill at the Nashville conference.
Trump’s campaign’s crypto strategy is attracting a diverse group of supporters. Donors come from various professions and backgrounds, including homemakers, military officers, and tech workers.
This support from different individuals shows that many people like Trump’s crypto-friendly stance. In the report by CNBC, Trump campaign aide Brian Hughes emphasized the importance of using crypto as a source of funding.
He pointed out that crypto innovators feel the current administration is attacking them. According to Hughes, Trump’s campaign offers hope for American leadership in emerging technologies.
Disclaimer: The opinions expressed in this article do not constitute financial advice. We encourage readers to conduct their own research and determine their own risk tolerance before making any financial decisions. Cryptocurrency is a highly volatile, high-risk asset class.
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