The legitimacy of cryptocurrency in the United States has received another boost now that Donald Trump has announced he will accept campaign donations using altcoins.
Trump mentioned the acceptance of crypto donations during a recent Q&A session regarding the release of a new batch of Mugshot Edition NFTs he is selling.
“If you can’t, I’ll make sure you can… Can we donate to the Trump campaign using crypto? I believe the answer is yes.”
Donald Trump
These non-fungible tokens are digital assets that can be purchased for $99 each. Anyone who buys at least 47 NFTs will get to participate in a dinner with Trump and win a piece of the suit he wore for his Georgia mugshot.
Buyers of 100 or more NFTs will get to attend a cocktail party with Trump and will receive a piece of the tie featured in his mugshot.
These digital assets are being issued by NFT INT LLC, a company that claims no affiliation with the former President. One could assume that Donald is merely being paid for his image and mugshot apparel, but past company filings have listed Trump as various corporate officers.
“If you like crypto in any form, and it comes in a lot of different forms, if you are in favor of crypto, you better vote for Trump,”
Donald Trump
Trump also indicated that Joe Biden was unfamiliar with crypto and could be entirely ignorant of their existence or how transactions work, thus positioning himself as the altcoin-friendly 2024 Presidential candidate.
Holders of large financial stakes often see political issues in black and white. If a candidate will hurt their bottom line, they simply vote for the other guy.
Cryptocurrency markets are largely dictated by the movement of Bitcoin. BTC is currently trading at $61,108.69, over double its value from this time last year. The following financial prop bet suggests that the price of Bitcoin will rise by over $2,000 in the next three weeks.
Bitcoin (BTC) Value At The End of May
- Under $63,500.50 -120
- Over $63,500.50 -110
Additional Bitcoin prop bets imply a value north of $68K by December 31, 2024. That could be a low estimate if Trump wins the White House this November and further endorses cryptocurrency.
Bitcoin (BTC) Value At The End of 2024
- Over $68,000.50 -150
- Under $68,000.50 +110
Right now, political betting sites have Trump in a slight lead over Biden, but both candidates have near even odds to win.
US Presidential Election 2024 Winner
- Donald Trump Sr. EVEN
- Joe Biden +115
Whether you bet on Cryptocurrency markets to go up or down should largely depend on if you think Trump or Biden will win this November.
Sources:
- BetOnline Sportsbook (BetOnline Review)
- The Block
- Coinbase
