President Biden's re-election campaign is reportedly in talks to accept bitcoin and cryptocurrency donations. This move comes after his rival Donald Trump opened up bitcoin contributions to his campaign.
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JUST IN: Joe Biden's campaign is in talks to accept crypto donations through Coinbase Commerce, The Block reports. pic.twitter.com/lvS3dyasgq
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1801022891179249845?ref_src=twsrc%5Etfw”>June 12, 2024
crypto-donations-through-coinbase-commerce-sources”>The sources claim
Biden's campaign outreach is reportedly an effort to appeal to voters focused on bitcoin and cryptocurrencies ahead of the hotly contested 2024 election.
However, the news sparked negative reactions from some industry figures. Critics argued it was hypocritical given the Biden administration's hostile stance toward the industry, including a recent veto of bipartisan cryptocurrency legislation.
Sources say the Biden team wants to show a friendlier stance toward bitcoin and cryptocurrencies. With the election expected to come down to razor-thin margins, bitcoin and cryptocurrency voters could prove decisive.
multimillionaire x.com/BitcoinMagazine/status/1790373066108756405″>Mark Cuban suggested Biden's indifference towards cryptocurrencies could give Trump the presidency. Recent polls give Trump a double-digit lead among cryptocurrency holders.
The Biden campaign did not officially confirm reports about possible cryptocurrency donations. Sources emphasized that talks are still exploratory as Biden assesses the bitcoin and cryptocurrency landscape.
However, the commitment shows the growing influence of bitcoin. Both sides realize that it is now necessary to appease bitcoin supporters, even if it is symbolic. With potential voters and donors at stake, expect more complacency with bitcoin as November approaches.
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