Key Takeaways
- Trump has declared himself the 'Bitcoin president.'
- A fundraiser in San Francisco raised $12 million for Trump's campaign.
- Trump's pro-Bitcoin stance contrasts with Biden's tougher stance on the industry.
One week after accepting Bitcoin Lightning campaign donations, Trump declares himself the “Crypto president.”
Hosted by tech venture capitalists David Sacks and Chamath Palihapitiya at Sacks’ Pacific Heights home, the event raised $12 million for Trump’s campaign, according to three sources present. Executives from Coinbase, the Winklevoss twins, and other industry leaders attended the event.
Trevor Traina, a San Francisco-based tech executive and former U.S. ambassador to Austria under Trump, told Reuters:
He said he would be the Crypto president.
Trump’s strong pro-Bitcoin stance was further emphasized during the event, where he highlighted the importance of Bitcoin and expressed his robust support for the sector. Republican National Committeewoman Harmeet Dhillon told Reuters that Trump stressed his support without detailing his proposed Bitcoin policy.
Despite San Francisco’s liberal reputation, Trump’s fundraiser attracted several high-profile local venture capitalists and Bitcoin investors, who cited excessive regulation as a primary concern. Jacob Helberg, an adviser to Palantir, noted:
President Trump made clear that the Biden-Gensler crusade against Bitcoin will grind to a halt within one hour of a second Trump administration.
Last week, Donald Trump made history by becoming the first U.S. President to accept Bitcoin Lightning Network donations. He has recently stated that he wants the future of Bitcoin to be in America, rather than driven overseas by harsh regulations.
As the 2024 presidential election approaches, Trump’s stance on Bitcoin is playing a significant role in garnering support from over 50 million Bitcoin owners and enthusiasts in the United States, while his opponent, Joe Biden, has taken a tougher stance on the industry.
