Donald Trump Is Working on a ‘Day 1’ Crypto Policy If Reelected — Would It Be Good for Crypto?

Over the past few years, former President Donald Trump has made significant use of cryptocurrency. He bought millions of cryptocurrencies from NFT projects and memecoins, even selling 1,075 ETH for $2.4 million. Its involvement in cryptocurrency has attracted a lot of attention from the crypto community; Some believe Trump’s presidency will benefit them.

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Trump is reportedly working with Bitcoin Magazine CEO David Bailey on a “day 1” policy move that would impact the cryptocurrency.

“Over the past month, we have been working with the Trump campaign to develop the bitcoin and crypto policy agenda. We have proposed a comprehensive executive order for President Donald Trump to sign on Day 1. I will share those details soon. This week, Trump said in a post on Bailey, He wrote: “It’s a first step, but there’s a lot of work to be done. “We plan to raise a $100 million war chest for the campaign to ensure the next President of the United States is pro-Bitcoin.”

The post came just days after Trump hosted an NFT event for his supporters at Mar-a-Lago, saying: “Democrats are strongly opposed to this [crypto]. And I’m saying, a lot of people are very receptive to that… and that’s okay with me. I want to make sure it’s nice and solid… but I’m okay with that. “If you love crypto in any form, and it comes in many different forms, you better vote for Trump.”

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Bailey also posted several more tweets in which he added more context to what a Trump presidency could mean for the cryptocurrency, saying Trump’s victory in November “will trigger a Bitcoin ‘space race’ due to the repositioning of the world’s major powers in response to the US.” ” and “ no future administration will mess with us again. “We will have proven that this is political suicide.”

While Bailey may be exaggerating the potential effects of a Trump presidency on cryptocurrency, he is extremely supportive of Trump’s stance on crypto and the potential for a massive increase in crypto adoption. “It is time for Bitcoin to elect the next President of the United States,” he said.

For most people, cryptocurrency is a secondary issue, if at all. But while some polls show Trump and Biden tied in the upcoming election, secondary issues like crypto could potentially become a deciding factor in the election. This is especially true as the number of crypto users continues to grow and business interests in crypto become more prominent.

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Additionally, a less discussed point is that Trump could bring in large donations to the campaign via crypto. “We need to raise $100 million for Trump. We already have seven-figure commitments,” Bailey said.

As the race heats up, keep an eye on cryptocurrency as it could potentially become an issue that plays a role in deciding the election.

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