Entrepreneur
Ahead of the 2024 U.S. Presidential Election, the future of cryptocurrency and its regulation has become a topic of discussion among voters.
On Thursday, a regulatory financial filing by Republican nominee Donald Trump showed that the former President owns over $1 million in crypto, showing Silicon Valley that the presidential candidate may have favorable crypto policies derived from personal interest.
Related: Mark Cuban Says He’s Received ‘Multiple Questions’ From Kamala Harris About Crypto
The financial filing stated that Trump owns a cryptocurrency wallet and a “virtual Ethereum key” which, depending on the current markets, can range in value from $1 million to $5 million.
Trump’s current stance on crypto is a “hands-off” approach allowing the market to self-regulate.
The former President now also accepts cryptocurrency, such as Bitcoin, as funding for his campaign, signaling a strong pivot from his prior stance that crypto was a “scam” and “disaster waiting to happen.”
In an interview with Bloomberg, Trump championed Bitcoin mining in the U.S. to curb China’s growing influence over the market.
“If we don’t do it, China is going to figure it out, and China’s going to have it—or somebody else,” Trump said.
Last month, Mark Cuban told Decrypt in an interview that he had been fielding calls from Democratic nominee Kamala Harris’ team about cryptocurrency and advice on the market.
Related: Musk, Trump Hit With Federal Labor Charges Over Livestream
Cuban then accused Silicon Valley leaders that support Trump of doing so as a “Bitcoin play.”
“What will drive the price of BTC is lower tax rates and tariffs, which if history is any guide (and it’s not always ), will be inflationary,” Cuban explained on X. “Combine that with global uncertainty as to the geopolitical role of the USA, and the impact on the US Dollar as a reserve currency, and you can’t align the stars any better for a BTC price acceleration.”
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