Trump Supports Cryptocurrencies and Criticizes Biden’s Administration at Event for Owners of His NFTs

Presidential candidate Donald Trump supported cryptocurrencies during a special event for owners of his NFTs at his Mar-a-Lago resort in Florida.

The former U.S. president, who hopes for a new term in 2024, lamented that crypto companies are fleeing America.

– Crypto is moving out of the U.S. due to hostility towards crypto. We will stop that because I don’t want it. If we want to embrace it, we have to let them be here – Trump said.

Responding to questions from the audience, Trump said he would welcome donations for his campaign in bitcoin and other tokens.

Trump’s shift in views on digital assets comes after analysts suggested on Tuesday that his victory in the U.S. presidential election in November would be good for bitcoin. Trump criticized Biden, claiming that the current president knows nothing about crypto.

– Biden doesn’t know – Trump told the audience, also targeting the chairman of the U.S. Securities and Exchange Commission (SEC).

– Gensler is very against it, the Democrats are very against crypto – Trump added.

Ron Hammond, director of government relations at the Blockchain Association, linked the event at Mar-a-Lago to the adoption of a resolution in the U.S. House of Representatives condemning the SEC’s policy on crypto banking.

– I didn’t think cryptocurrencies would be an election issue, but today’s completely opposite statements proved that. Twenty-one Democrats voted against their own party today realizing the trend: it’s a losing thing to be in the anti-crypto army – Hammond tweeted.

In April, meme tokens on Solana featuring caricatures of Trump and Biden surged, according to DexScreener data. At one point, ‘Jeo Boden’ and ‘Doland Tremp’ had market capitalizations of $473 million and $83 million, respectively.

Hearing that the token mocking Joe Biden is worth $240 million, Trump said it represents a large capitalization and that he does not like that investment.