Donald Trump stoked the crypto fire, hinting he could spark a bull run.
Former US President Donald Trump declared, "Our country should be a leader in this field, there is no second place," in a May 25 post on Truth Social, a platform owned by Trump Media and Technology Group (TMTG).
Trump expressed a positive and open-minded stance towards cryptocurrency companies and the burgeoning sector, announcing his intention to challenge President Joe Biden in the 2024 presidential election, scheduled for November 4.
These remarks were made ahead of his speech at the Libertarian Party National Convention in Washington on the same day. Trump's favorable outlook on crypto has raised expectations within the industry. According to Polymarket, a New York-based crypto prediction platform, Trump’s chances of winning the election are at 56 percent, compared to Biden’s 38 percent.
This news follows the Trump campaign's recent announcement that it would accept cryptocurrency donations. On May 21, the Trump 2024 campaign unveiled a fundraising page allowing eligible individuals to donate using cryptocurrency through Coinbase Commerce.
In addition to his public endorsements of crypto, Trump has also engaged with crypto enthusiasts. Cointelegraph reported that those who purchased Trump’s "Mugshot" NFTs had the chance to dine with him at his Mar-a-Lago residence on May 8. The dinner was part of a promotion tied to digital artwork depicting his mugshot from the Fulton County Jail in Georgia.
