Donald Trump has made history by becoming the first American President to accept Bitcoin Lightning Network payments for campaign donations. This is yet another major step in integrating Bitcoin into mainstream politics.
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David Bailey, CEO of Bitcoin Magazine and a cryptocurrency policy aide to Trump’s campaign, is the advisor behind this decision. Trump’s campaign has teamed up with OpenNode, a top Bitcoin and Lightning Network infrastructure provider, to make it possible.
Trump Has a Commitment to Bitcoin
Speaking at a Libertarian Party convention last weekend, Trump expressed his dedication to creating a Bitcoin-friendly environment in the U.S. He stated, “I will ensure that the future of crypto and Bitcoin will be made in the USA,” and emphasized his support for the right to self-custody for the nation’s 50 million crypto holders.
Donald J. Trump. Source: Trump Campaign
Trump also made a historic promise to commute the sentence of Ross Ulbricht, the founder of Silk Road and an early Bitcoin pioneer, to time served if he is elected President. He stated that:
He’s already served 11 years. We’re going to get him home.
Trump has also shared his support for crypto-centered companies, stating, “I am very positive and open-minded to cryptocurrency companies and all things related to this new and burgeoning industry.” This is a far cry from four years ago when the former president publicly called Bitcoin a scam.
Trump’s Opponent RFK Supports Crypto Backing
Robert F. Kennedy Jr., Trump’s opponent in the U.S. presidential race, shared his support for Trump’s new pro-crypto stance during a press conference at Consensus 2024 in Austin, Texas. Kennedy said:
I’m happy about that. I think it’s a good thing for our country. Commitment to crypto is a commitment to freedom and transparency. I’m not going to question if it was a political decision. I’m happy he did it, and I hope President Biden does, too.
Kennedy pointed out that the main issues with crypto regulation in the U.S. are the need for transactional freedom and sovereignty over wallets. He emphasized the importance of having a transparent currency and ensuring that America stays at the forefront of blockchain technology. He also stated his commitment to regulating cryptocurrency in a way that protects consumers from deceptive schemes.
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Kennedy also shared his personal involvement with Bitcoin, stating, “I purchased 21 bitcoins since I started this campaign. I also bought three coins for each of my kids.”
Cryptopolitan reporting by Jai Hamid