Former US President Donald Trump revealed intentions to release a fourth NFT collection in an unexpected action that draws attention to his growing interaction with the digital asset scene.
The development follows an interview with Bloomberg Businessweek in which Trump praised the performance of past collections and expressed changing opinions about cryptocurrencies.
NFT Boom For Trump
Trump’s entry into the realm of non-fungible tokens (NFTs) has been overwhelmingly positive. Comprising 45,000 digital cards, every one of his three previous collections sold out within a day of publication.
“With 45,000 cards sold overall, everything went well. I did it three times as well; the people want me to do another one. I am going to do it once more. Unbelievable energy is what it is. Beautiful,” said Trump in the interview.
Accepting The Digital Wave
Originally a strong opponent of cryptocurrencies, Trump has clearly turned to embrace the digital asset sector. Not only is this transformation rhetorical, but his campaign tactics clearly show it.
According to a Federal Election Commission (FEC) document reported by the Wall Street Journal, Trump’s campaign started collecting crypto payments in May; last quarter, this action already attracted around $3 million in donations.
“It isn’t disappearing, about cryptocurrencies,” Trump replied. “It is fantastic.” At his fundraisers, he stated that he had met several powerful crypto business leaders who he described as “top-flight folks.”
This change in viewpoint seems to be motivated by a strategic goal to make sure the US does not lag behind China especially in the developing crypto sector. “If we fail, China will take it up and China’s going to have it – or anybody else, but most likely China. China is definitely into it,” the former commander in chief said.
Trump’s Advocacy Of Cryptocurrencies
Trump’s changed attitude towards cryptocurrencies is a major break from his past contempt. Under his leadership, he has dubbed Bitcoin as “not money” and “fraud”.
Still, Trump now believes that keeping America’s global competitiveness depends on the digital assets. The acceptance of crypto donations by his campaign and the choice of pro-Bitcoin Senator J.D. Vance (R-Ohio) as running mate indicate to a more all-encompassing approach to include and assist the crypto market.
Meanwhile, prominent cryptocurrency players such as Gemini co-founders Tyler and Cameron Winklevoss and Kraken co-founder Jesse Powell have showed their support by generously funding Trump’s reelection campaign and associated super PACs. Trump’s interaction with the crypto community at fundraisers emphasises even more his dedication to the sector.
Strategic Connotations
Trump’s deliberate alliance with the cryptocurrency industry marks a major change in his personal posture as well as in more general US policy issues. He now wants to strengthen America’s place in the worldwide digital economy by helping Bitcoin miners and push for new guidelines that would boost the country’s Bitcoin infrastructure.
But before all that, he’s got to first get busy for the launch of his new NFTs.
Featured image from Donald Trump/Truth Social, chart from TradingView