Joe Biden becomes a crypto fan, three days after Trump said he would free Silk Road founder

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Last Updated on 31 May 2024 by CryptoTips.eu

After former US President Donald Trump announced earlier this week that he planned to release Silk Road founder Ross Ulbricht if elected, current President Joe Biden is also turning pro-crypto. A lot of this probably has to do with the popularity of digital currencies among American youngsters whose vote both men desperately need come November.

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On May 21, the Trump election campaign announced that it would as from now allow donations in crypto. A few days later the former president announced at the 2024 Libertarian National Convention that he would release Ross Ulbricht, the founder of Silk Road, if he becomes president in November.

The news was greeted by crypto fans who subsequently pushed the memecoins PEPE and TRUMP to new heights.

It is now also becoming clear that President Joe Biden’s re-election campaign is contacting various players in the cryptocurrency industry. This time however, Joe has a much more positive tone than before, probably because his team now realizes that the constant criticism towards digital currencies by Treasury Secretary Janet Yellen and Senator Elizabeth Warren is not liked by youngsters.

Both Trump and Biden need the votes of GenZ voters to win the election in November, and given the enormous popularity of Bitcoin, Ether and Doge among young people, it is somewhat normal that they both do this.

It remains to be seen whether both will translate these positive signals for the crypto community into action afterwards, but for the moment we are very happy with the support.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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