United States Senator Marsha Blackburn announced Tuesday that her reelection campaign has begun accepting crypto donations, signaling the increasing acceptance of the asset class in American politics.
Blackburn’s fundraising page indicates that her campaign currently accepts donations in cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), and Litecoin (LTC), powered by crypto payments provider BitPay.
“Our campaign is committed to meeting supporters where they are,” Blackburn said in an X post on July 9. “As a growing number of Americans utilize digital currencies for everyday transactions, we are excited to begin accepting crypto donations!”
Crypto Is Now A Political Force
The Republican Senator’s acceptance of crypto donations is part of a wider trend of cryptocurrency embrace among politicians. Presumptive Republican presidential nominee Donald Trump started accepting donations in crypto back in May. Trump has since doubled down, calling for a domestic Bitcoin mining industry to develop in the US. For good measure, he also promised to commute the life sentence of Silk Road founder Ross Ulbricht.
Crypto has arguably emerged as a bona fide campaign issue, with Trump positioning himself as the crypto candidate and promising to protect Bitcoin from Democratic incumbent Joe Biden’s hostility.
This comes after a period in which Biden’s Securities and Exchange Commission (SEC) has actively probed multiple crypto firms in an era-defining crackdown. Moreover, Biden’s ill-advised veto of a resolution to overturn the SEC’s controversial accounting guidance could have severe political ramifications for him at the November polls.
Many industry pundits believe Biden’s anti-crypto stance may actually cost him in the upcoming presidential election.
That being said, whoever is sworn in as president come January 2025 — be it Biden or ex-POTUS Trump — will be in a crucial position to define crypto’s status in America.