Donald Trump Says 'You Better Vote' For Him If You're Pro-Crypto: But Has He Always Been 'Fine With It'?

Zinger Key Points
  • Remarks made during a gathering with buyers of his "Mugshot Edition" NFTs highlight Trump's support for cryptocurrency.
  • Trump vows to retain crypto businesses in the U.S. and emphasizes the importance of embracing the industry.

Former U.S. President Donald Trump on Wednesday publicly endorsed cryptocurrency, declaring it a significant election issue—a move that contrasts with President Joe Biden‘s perceived unfamiliarity with the crypto world.

What Happened: In a series of video clips uploaded by Frank Degods, a notable NFT creator and influencer, Trump expressed his support for the crypto industry.

Addressing a group of buyers of his NFTs, Trump contrasted his approach with that of President Joe Biden: “I’m fine with it,” Trump stated, adding, “If you like crypto in any form… if you’re in favor of crypto you’d better vote for Trump.” His comments were met with enthusiasm from the crypto community.

The remarks were reportedly made during a gathering organized by Trump to meet with purchasers of his “Mugshot Edition” NFTs.

Attendees, who individually acquired over 47 NFTs priced at $99 each, were treated to dinner with the former president. Trump emphasized his role in revitalizing interest in NFTs, declaring, "We made NFTs hot again."

Trump also addressed the issue of crypto firms leaving the US due to what he termed as “hostility” from Democrats and Securities and Exchange Commission Chair Gary Gensler. He emphasized the need to embrace these firms.

Also Read: JPMorgan Analysts Optimistic About Future Approval Of Spot Ether ETFs Despite Regulatory Hurdles

Why It Matters: This marks a significant shift in Trump’s stance on crypto, having previously dismissed Bitcoin as a scam against the dollar in 2021. He also called crypto a “disaster waiting to happen” in 2021. The former President warmed up to digital assets over time, noting in March this year that he is “having fun with crazy new currencies.”

Avichal Garg, Co-founder of Electric Capital, lauded Trump’s evolving stance on crypto, suggesting it could have implications for the political landscape. However, Trump's campaign declined to provide further comment on the matter.

The comments come on the same day as President Biden’s announcement that he would veto a resolution seeking to repeal a Securities and Exchange Commission accounting policy, which makes it more expensive for financial institutions to custody digital assets.

What’s Next: These topics are poised to be hotly debated at Benzinga’s Future of Digital Assets event on Nov. 19, where industry leaders will discuss the evolving relationship between cryptocurrency and mainstream politics.

Read Next: Is Ethereum ‘This Cycle’s Basket Case’? 10x Research Points Out ETH’s ‘Only Bull Story’

Image: Shutterstock

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