During Monday's World Liberty Financial launch event hosted by Decrypt's sister company Rug Radio, former U.S. President Donald Trump credited the excitement over his own branded NFT projects with his change of heart towards cryptocurrency.
As the Republican candidate for president explained, Trump saw that the majority of his NFT trading cards minted on Ethereum scaling network Polygon were being purchased with cryptocurrency—and that his supporters were excited about his entry into the space.
“So many people paid this way,” Trump said. “If they would have been paying in dollars, I would have said that's standard, I would have assumed—and I was blown away."
Public Bitcoin Miners Are Taking Over—But Their Stock Keeps Dropping
The largest Bitcoin mining companies are steadily claiming greater dominance over Bitcoin’s network security, even though their stock performance this year might not suggest such success. JP Morgan analysts summed up the current state of the market in their “September ’24 Bitcoin Mining Halftime Report" published Monday, noting that publicly listed U.S. mining companies saw their piece of the network hash rate pie expand for the fifth straight month—to a record 26.7%. Hash rate measures the pace...
Before the launch of his first NFT collection in December 2022, Trump admitted that he wasn't interested in crypto. In fact, he had previously slammed Bitcoin during his first presidential term, saying he was "not a fan." In 2021, after leaving the White House, he said in an interview that Bitcoin "just seems like a scam."
But that's no longer the case, and seeing the use of crypto to purchase his NFTs apparently helped change his mind. And since that first project sold out in 2022, Trump has launched three further sets of digital trading cards—the latest of which launched in August.
Trump Releases Yet Another NFT Collection—This One Shows Him ‘Holding Some Bitcoins’ and Dancing
Donald Trump’s recent evolution into the “crypto president” in this year’s election is being marked with a fourth series of NFT trading cards, the Republican candidate announced Tuesday. It includes artwork depicting Trump “dancing and even holding some Bitcoins,” he said in a promotional video shared to social media. The “America First Edition” set of Trump Digital Trading cards includes NFTs again minted on Ethereum scaling network Polygon and selling for $99 apiece. And this time around, ther...
“I did ask what percentage was taken between Bitcoin and all of the other things, but with crypto, and it was a massive majority,” he said, noting his surprise at the number of people willing to spend their crypto on his digital cards.
“I was a little surprised by that, and that was a while ago now—and it opened my eyes,” he said. “But I think my children opened my eyes more than anything else.”
Joining Trump in the live Twitter Space were his three sons, Donald Trump Jr, Eric Trump, and Barron Trump—the youngest, and who Trump noted was a seasoned crypto user, even at just 18 years old.
“Barron knows so much about this, and he's a young guy, but he knows,” Trump said. “[Barron] talks about his wallet, he's got four wallets or something, he knows it so well.”
Trump Doubles Down on Bitcoin, Says He's Got a Job for Elon Musk If Elected
During a speech before the Economic Club of New York on Thursday, Republican candidate for U.S. president Donald Trump asserted that the country would be the “world capital of crypto and Bitcoin.” In addition to reiterating his stance on digital assets, Trump also proposed—at the suggestion of Telsa CEO Elon Musk—a new government efficiency commission that will audit the federal government. “I will create a government efficiency commission tasked with conducting a complete financial and performa...
“It's almost like younger people know it a lot better than older people,” Trump added. “But I have a lot of respect for them.”
Trump likened the crypto industry to a fledgling but massive business, adding that it has a chance to “be something special.”
“When I do things, I notice a lot of crypto comes in; people pay with crypto,” Trump said. “You didn't see that even a year ago, two years ago. So I think it's really big, and yet it's a fledgling compared to what it will be.”
Edited by Andrew Hayward
Editor's note: This story was updated after publication with additional details.
