NFTs
How Donald Trump went from selling NFTs to declaring himself the ‘president of crypto’
Crypto Analyst Croissant Investigated Former President Donald Trump’s growing involvement in the cryptocurrency space and its potential implications for the 2024 elections.
What happened: The analyst highlights that Trump’s journey into crypto began in December 2022 with the launch of a digital business card collection featuring 45,000 NFTs on Polygon, which quickly sold out, earning him over $4 million.
Trump’s involvement didn’t stop there. He hosted events for NFT holders, including dinners and golf outings at Mar-A-Lago. This proliferated when his wife, Melania, launched your NFTsfollowed by Trump Mugshot-Themed NFTs.
In 2024, Trump’s campaign began accepting crypto donationscontrasting sharply with the Democratic stance on digital currencies.
While Trump promised to keep crypto businesses within the US, Senator Cynthia Lummis (R-Wyo.) echoed similar pro-crypto sentiments, aiming to build a pro-crypto army.
Read too: Could Joe Biden Campaign Accept Crypto Donations – Donald Trump Effect?
Why this matters: Donald Trump not only promised to “protect Bitcoin Elizabeth Warren’s BTC/USD”, but also presented himself as the “crypto president” in a fundraiser raising $12 million. It attracted notable figures such as the Winklevoss twins and Coinbase executives.
On June 11, Trump met with executives from top crypto mining companies, declaring“We want all remaining bitcoin to be produced in the US. This will help us be energy dominant!”
With Trump’s crypto wallet holding $14 million in Maga Memecoin TRUMP/USD, Ethereum ETH/USD and other currencies, its pro-crypto stance could significantly impact the electoral scenario.
What is the next: The influence of Bitcoin as an institutional asset class expected to be thoroughly explored at Benzinga’s next event Future of digital assets event on November 19th.
Image: Shutterstock
This content was produced in part with the help of AI tools and was reviewed and published by Benzinga editors.