Former U.S. President Donald Trump has declared his intention to accept cryptocurrency donations for his presidential campaign, marking him as the first major party presidential nominee to do so.

On May 21, his campaign team launched a fundraising page where donors can contribute using various cryptocurrencies like Bitcoin, Ether, Solana, SHIB, and DOGE.

Hosted on the Coinbase platform, the page allows donors to give using any cryptocurrency accepted by the exchange.

“Today, President Trump’s campaign has introduced a fundraising page enabling any federally permissible donor to contribute through its joint fundraising committees using any cryptocurrency accepted through the Coinbase Commerce product,” an announcement on Trump’s official campaign website stated.

The move to accept cryptocurrency donations is seen as an effort to appeal to a younger demographic showing increased interest in digital assets. Interestingly, the campaign’s announcement quoted a Coinbase representative, Julia Krieger, saying, “Crypto is nonpartisan and moves money forward because it’s cheaper and faster.”

It's also viewed as a means to advocate for reducing government control over financial decisions, aligning with Trump’s message.

“As our President, Donald J. Trump has reduced regulations and championed innovation in financial technology, while Democrats, like Biden and his official surrogate Elizabeth Warren, continue to believe only government has the answers to how our nation leads the world,” the announcement elaborated.

However, Trump’s decision is not devoid of controversy. Concerns about the anonymity of cryptocurrency transactions have been raised, potentially posing challenges in verifying donors’ identities. Nonetheless, the campaign team pledges compliance with Federal Election Commission regulations and commits to transparently disclosing donation sources.

Trump’s campaign announcement conveys a sense of empowerment, rallying supporters under the banner of a “crypto army” poised to secure victory in the upcoming election. This move follows Trump's recent jest at President Joe Biden for seemingly lacking understanding of cryptocurrencies.

In response to Trump’s initiative, Biden’s supporters purportedly swiftly called for donations, expressing concerns about being “outraised” by “crypto executives” backing Trump, as evidenced by a widely circulated screenshot.

However, Trump isn't the only one recognizing cryptocurrencies' allure in politics. Rival candidate Robert F. Kennedy Jr. has embraced Bitcoin, citing its symbolic significance as a beacon of democracy and freedom. Additionally, candidates in smaller races, like pro-Ripple lawyer John Deaton in Massachusetts, leverage cryptocurrency donations to challenge incumbent opponents like Senator Elizabeth Warren, who has supported anti-crypto legislation.