Bittime - Donald Trump, in an exclusive event at Mar-a-Lago, voiced his support for cryptocurrencies and said President Joe Biden has no understanding of them.
US Presidential candidate Donald Trump showed his support for cryptocurrencies during a special event for Trump NFT holders at the Mar-a-Lago resort in Florida, Wednesday evening local time.
The former US President, who is now hoping for elections in 2024, expressed his concern that crypto companies are starting to leave America.
“Crypto is starting to leave the US because of the hostility that exists,” Trump said. “We're going to stop this because I don't want it—if we're going to accept crypto, we have to let them be here.”
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In a question-and-answer session with a crypto-savvy audience, Trump expressed his willingness to accept campaign donations in the form of Bitcoin and other tokens.
Trump's change in views on digital assets comes after analysts stated on Tuesday that his victory in November's US Presidential election would benefit Bitcoin. He also attacked the incumbent, claiming that President Joe Biden has no knowledge of crypto.
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“Biden knows nothing,” Trump told the audience, targeting the chairman of the US Securities and Exchange Commission (SEC).
“[Gary] Gensler strongly opposes it, and so do the Democrats,” Trump said. “But I support it.”
Ron Hammond, director of government relations at the Blockchain Association, drew a connection between the Mar-a-Lago event and the passage of a resolution in the US House of Representatives condemning the SEC's policy on crypto banking.
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“I didn't think crypto would be an election issue, but today's starkly contradictory statements prove it,” he tweeted. “Twenty-one Democrats today voted against their own party realizing the trend: being part of the anti-crypto army is a losing cause.”
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In April, prices for Solana-based meme coins featuring caricatures of Trump and Biden soared, according to blockchain data from DexScreener. At one point, “Jeo Boden” and “Doland Tremp” had market capitalizations of $473 million and $83 million, respectively.
Hearing that the token mocking Joe Biden was worth $240 million, Trump said: “That's a lot of money for a coin, I don't like that investment.”
Tonight's event was advertised as “an extraordinary dinner held at the President's home in Palm Beach, Florida,” a perk of purchasing a Trump NFT.
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“President Donald Trump will host a great evening for some very special Trump Trading Card holders,” the official website promotes.
“Dubbed the Winter White House, you will enjoy a once-in-a-lifetime experience at the historic presidential residence and exclusive club for members only.”
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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