The presidential campaign of Donald Trump is now accepting donations in cryptocurrencies.
The Trump campaign announced that it will accept crypto donations, saying the move is meant to show solidarity with people who oppose government control of financial markets.
Supporters of Trump can donate to his current presidential campaign using “any cryptocurrency accepted through the Coinbase Commerce product,” said the former U.S. president in a news release.
The announcement contrasts Trump with current U.S. President Joe Biden, who has been a vocal critic of cryptocurrencies and supported regulating the industry.
Trump has referred to himself as the “crypto president” and vowed to build a “crypto army” if he is re-elected in the upcoming presidential election this November.
Last year, Trump sold non-fungible token (NFT) trading cards that featured his likeness, allowing people to buy the cards using crypto.
At the same time, the decision to accept crypto provides a new source of funds for the Trump campaign at a time when it trails Biden’s re-election campaign in terms of cash raised.
Crypto donations to the Trump campaign will be reported as in-kind contributions, much like gifts of stock. The campaign can either liquidate the digital assets or hang on to them.
Trump is not the first presidential candidate to accept crypto donations.
Robert F. Kennedy Jr., who is mounting an independent presidential bid, announced in May 2023 that his campaign would accept Bitcoin (BTC) donations.
