On Monday, Donald Trump participated in a live stream on X Spaces, during which he discussed World Liberty Financial, a new cryptocurrency venture that will issue a stablecoin called the $WL token.
A stablecoin is a type of cryptocurrency whose value constantly matches that of another asset. In the case of the $WL token, the value will remain consistent with the US dollar.
The marketing for World Liberty Financial suggests that the future of the United States will require deregulated financial markets, an atmosphere where altcoins will thrive.
“We are embracing the future with crypto and leaving the slow and outdated big banks behind.”
Excerpt from a video clip posted to Trump’s X account
Since cryptocurrency is still a burgeoning market in the United States, considering the total number of investors, it remains highly susceptible to the influence of popular actors and the movement of Wall Street and major corporations.
As more big dogs hop on board with crypto trading, the confidence among the average American consumer rises.
With Trump’s endorsement of altcoins, new demographics will consider investing for the first time. Influencers like Elon Musk have created trading frenzies for Dogecoin by simply mentioning the altcoin in a tweet.
Still, with Trump’s prior opposition to cryptocurrency, the impact of these endorsements could be minimal.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Trump Bitcoin 2024 Campaign Contributions
Of the two 2024 Presidential candidates, Trump is the only one accepting campaign contributions via crypto. Kamala Harris is not accepting altcoin donations directly. Future Forward PAC, dedicated to supporting Harris, will accept donations using the online platform Coinbase.
Trump can accept funds directly on his campaign website using Coinbase, Gemini, or Anedot. These online digital wallets allow contributions to be made using Bitcoin and Ethereum.
Additional Trump Cryptocurrency Support
While on the campaign trail, Donald Trump has championed the United States becoming the world leader in cryptocurrency. He has also suggested the creation of a BTC stockpile in the US, gobbling up a sizable percentage of total coins issued and holding them indefinitely.
“Instead of attacking industries of the future, we will embrace them, including making America the world capital for crypto and Bitcoin,”
Trump on September 5, 2024, at the Economic Club of New York
The US Government currently possesses roughly 1% of all Bitcoin, most of which was captured from criminal seizures. The United States already ranks first in worldwide Bitcoin holdings among nations, with China coming in at a distant second place.
Can a decentralized currency be considered decentralized if it is adopted by a world power nation? A Trump win in 2024 could reveal the answer.
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