Will Joe Biden's campaign team accept cryptocurrencies?

US President Joe Biden's campaign team is holding talks with cryptocurrency companies about accepting donations in digital currencies. Does this mean that the White House wants to fight for bitcoin voters?

Joe Biden's campaign team wants your bitcoins!

Although the Biden administration will not go down in history as particularly pro-cryptocurrency, now – in almost the last stretch of the election campaign – it probably wants to fight for the votes of BTC fans. If media reports are to be believed, the president's people met with representatives of the cryptocurrency market. They are supposed to collect donations for the campaign through the Coinbase exchange.

(They want to) show that they are not the enemy (of cryptocurrencies)

– an anonymous source told The Block.

Response to Trump's policies

Everything happens at a special moment. Biden's most serious rival in the fight for power, Donald Trump (yes, it's him again; Americans will have a bad remake provided by politicians this year), recently expressed full support for bitcoin, cryptocurrencies and the American mining market. He even met with representatives of the largest BTC mines in the USA. Interviews were conducted at his home in Mar-a-Lago.

Trump also said publicly that bitcoin mining could be “our last line of defense against CBDC (central bank digital currency)” and warned that Biden's “hatred of bitcoin” is actually support for “China, Russia and the radical communist left.” He would also like the remaining bitcoins to be mined to be mined on American soil.

On top of all this, Trump's staff started accepting donations in bitcoin and a few other cryptocurrencies. It also does this through Coinbase.

All this made the cryptocurrency market support Trump and believe in his electoral success. Polymarket's blockchain-based prediction platform asked who would win the election. According to 56% of users, Trump has a greater chance of regaining the White House. In turn, only 35% of people believe in Biden's success. Also in traditional polls, the Republican wins. Although by only a few percentage points.

All this is compounded by the policy of the US authorities, which have been conducting a veritable crusade against the cryptocurrency market for the last few years.