Key Points
- Former President Donald Trump has been engaging with crypto supporters, positioning himself as pro-Bitcoin.
- Polymarket shows Trump leading with 62.1% support as crypto becomes an influential issue in the U.S. election.
Former President Donald Trump has been actively engaging with the crypto community in the lead up to the U.S. presidential election.
Despite his past criticisms of cryptocurrency, he has shown interest in digital assets, particularly in NFTs, launching his first series of digital collectibles in December 2022.
Trump’s Bitcoin Advocacy
Trump recently used social media to express support for Bitcoin on the anniversary of its white paper, a move that was well-received by many in the crypto community.
He also criticized Vice President Kamala Harris’s stance on cryptocurrency, promising to end her “war on crypto” and stating that Bitcoin will be “made in the USA”.
These comments were praised by many, including trader and investor Jason Pizzino who expressed support for Trump’s proposed tax policies on Bitcoin.
Support for Trump and Crypto Trends
According to Polymarket, Trump currently has 62.1% support, with Harris trailing at 37.9%.
This coincides with Bitcoin’s price slipping slightly after nearly reaching its all-time high. Despite the dip, Bitcoin’s RSI still indicates bullish tendencies.
Crypto’s Role in the Election
A study by Consensys and HarrisX revealed that cryptocurrency is a significant issue for voters in this election cycle.
Nearly half of the surveyed voters said a candidate’s stance on crypto could influence their voting decisions. Among crypto owners, this interest was even stronger.
Trump’s Crypto Engagement vs Harris’s Limited Outreach
Trump has been proactive in his engagement with crypto supporters, even attending the Bitcoin Conference 2024.
He also launched Bitcoin-themed sneakers and a fourth series of NFT trading cards, and started the World Liberty Financial.
In contrast, Harris’s efforts have been limited, with a “Crypto for Harris” campaign and a pro-blockchain speech being her main outreach to the crypto community.
With the election days away, it remains to be seen if Trump’s crypto-focused strategy will be successful.
