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Donald Trump is working on a ‘Day 1’ crypto policy if re-elected – would this be good for crypto?
In recent years, former President Donald Trump has benefited significantly from cryptocurrency. He has received millions in cryptocurrency also from NFT and memecoin projects selling 1,075 ETH for $2.4 million in the proceeds. His involvement in cryptocurrency has attracted considerable attention from the crypto community, some of whom believe they would benefit from a Trump presidency.
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Trump has reportedly been working with David Bailey, CEO of Bitcoin Magazine, on a “day 1” policy move that would impact the cryptocurrency.
“For the past month we have been working with the Trump campaign to develop their policy agenda on bitcoin and cryptocurrencies. We have proposed a comprehensive executive order that President Donald Trump will sign on day one. I will share those details soon. This week Trump took is the first step, but there is a lot of work to do. We intend to raise a $100 million war fund for the campaign to ensure that the next president of the United States is pro-Bitcoin,” Bailey wrote in a post on
The post came just days after Trump hosted an NFT event at Mar-a-Lago for his supporters, where He said, “Democrats are very against it [crypto]. And I say, a lot of people very much agree… and I’m fine with that. I want to make sure it’s good and solid…but I’m fine with it. If you like cryptocurrencies in any form, and they come in many different forms, you would be better off voting for Trump.”
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Bailey also posted several other tweets in which he adds more context to what a Trump presidency could mean for cryptocurrency, saying that a Trump victory in November “will trigger a ‘space race’ with Bitcoin as the world’s major powers reposition themselves in response to the US” and that “no future administration will ever get us in trouble again. We will have proven it to be political suicide. Instead they will seek our support. “
While Bailey may exaggerate the potential impacts of a Trump presidency on cryptocurrency, he is extremely supportive of Trump’s stance on cryptocurrencies and the potential for a huge increase in cryptocurrency adoption. “It’s time for Bitcoin to elect the next president of the United States,” He said.
For many, cryptocurrency is a peripheral issue, if not even considered at all. However, with some polls showing Trump and Biden tied for the next election, peripheral issues, such as cryptocurrencies, could potentially become a deciding factor in the election. This is especially true as the number of cryptocurrency users continues to increase and business interests in cryptocurrencies become more apparent.
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Furthermore, another less discussed point is that Trump could potentially bring in large campaign donations through cryptocurrencies. “We need to raise $100 million for Trump. We already have several seven-figure commitments,” Bailey noted.
As the race heats up, keep an eye on cryptocurrency, as it could potentially become an issue that plays a role in deciding the election.
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This article Donald Trump is working on a ‘Day 1’ crypto policy if re-elected – would this be good for crypto? originally appeared on Benzinga.com
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