Trump Gains Crypto Investors Support At Mar-a-Lago: 'If You Like Crypto, You Better Vote for Trump'

On March 8, former President Donald Trump hosted a group of supporters at Mar-a-Lago. The event was for those who bought more than 47 of the Trump Digital Trading Cards "Mugshot Edition" NFTs, which were priced at $99 each. Trump gave a short speech on cryptocurrency after the dinner, which was recorded and posted on X. 

"The Democrats are very much against it [crypto]. And I say this, a lot of people are very much for it … and I'm fine with it. I want to make sure it's good and solid … but I'm good with it. If you like crypto in any form, and it comes in a lot of different forms, you better vote for Trump," he noted.

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Trump also went on to say that "we made NFTs hot again," which was met by a cheer from his supporters. 

These statements mark a sharp turn in stance since 2021 when Trump said that crypto is "a disaster waiting to happen" and that he is "not a fan." 

Additionally, it is an even stronger stance than his previous take. At a Fox News town hall in February 2024, Trump said, "You probably have to do some regulation. But many people are embracing it. More and more I'm seeing people wanting to pay Bitcoin, and you're seeing something that's interesting, so I can live with it one way or the other."

So, over the past few years, Trump has gone from being against cryptocurrency to being indifferent, to now supporting it. These statements are especially relevant as the presidential race heats up. Cryptocurrency regulation is a major point of concern for those in the cryptocurrency community, most of whom would prefer less regulation. Trump's comments could certainly serve as a positive note for cryptocurrency enthusiasts if he is elected in November. 

Trump has not only endorsed the NFT projects that have used his name, but he has also received royalties from the projects, as well as free tokens from a handful of memecoins. In total, Trump holds over 700 ETH and recently sold 1,075 ETH in December 2023. However, his largest holding is MAGA Coin (TRUMP), which is currently worth well over $3 million.

The token, which some see as a proxy for betting on Trump's success in the election, is up more than 40% in the past 24 hours and nearly doubled in price after the initial video was posted. 

The statements gave cryptocurrency investors more clarity on Trump's stance, which could end up being a very important point of consideration for some voters. Both bitcoin and ethereum jumped slightly on the news. 

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