Former U.S. President Donald Trump has announced plans to accept cryptocurrencies as campaign contributions, a move that marks a major shift at the crossroads of politics and technology. The announcement was made at an exclusive dinner for buyers of his “photo edition” NFTs.

The announcement was delivered via a series of video clips shared by Frank Degods, a well-known figure in the NFT space. Trump addressed his supporters, assuring them of his commitment to cryptocurrency donations for his campaign.

Trump’s announcement comes as he is running as a candidate for the 2024 presidential election. Trump’s embrace of cryptocurrencies has long since transcended a mere fundraising strategy; it has evolved into a battle cry for his supporters.

Contrasting his stance with that of President Biden, Trump hinted at a fundamental difference between the current administration and the nascent cryptocurrency space. He went on to urge the crowd, “If you like cryptocurrencies in any form, and there are a lot of different forms of it, if you support cryptocurrencies, you better vote for Trump.”

Financial analysts are assessing the potential impact of a Trump presidency on the cryptocurrency market. Global financial institution Standard Chartered Bank said a second Trump administration could bode well for digital assets.

Analyst Jeff Kendrick wrote, "With the United States fiscally dominant, we believe Bitcoin (BTC) will provide a good hedge against de-dollarization and declining confidence in the U.S. Treasury market." Not long ago, Trump said in an interview with CNBC that if re-elected president, his governance philosophy would not crack down on the use of Bitcoin or other cryptocurrencies through regulators.

Bitcoin needs to be widely used. Trump said he noticed that many of the recently launched Trump brand sneakers were paid for with cryptocurrencies. When asked if he bought Bitcoin, Trump said he didn't have any Bitcoin, but sometimes let people pay with Bitcoin.