The pivot of Donald Trump to cryptocurrency has immensely paid off during this period of his campaign for re-election as the United States President. Precisely, the 78-year-old politician has gained support from some of the key players in the digital asset sector as well as the traditional finance landscape.
One of the latest figures to extend support to Trump is Paypal’s former President David Marcus. On the flip side, the ex-Paypal executive is a Democrat. He announced his stance on X on Wednesday, citing that he is “crossing the Rubicon” to support the Republican party and its candidate Trump.
“Many — including a former version of myself — get trapped in a mental framework that becomes their identity and prevents them from radically evolving their thinking with new facts and information. I finally broke free from it,” Marcus wrote on X.
🚨NEW: Another former @PayPal person, @davidmarcus, a Democrat, comes out in support of @realDonaldTrump.
Earlier this month I wrote about how PayPal co-founder @peterthiel has yet to publicly support Trump despite his protege Vance being on the ticket.
Will Thiel come around? https://t.co/EmYdGhd22z
— Eleanor Terrett (@EleanorTerrett) July 31, 2024
In his opinion, what the US needs is a president who is unequivocally pro: America, the Constitution, business, Bitcoin/crypto, innovation and so many other things. This candidate should also remain anti: regulatory proliferation, illegal immigration, unjust wars. Former President Trump fits the description perfectly, hence his support to him.
Meanwhile, PayPal co-founder Peter Thiel is yet to publicly endorse Trump and several trend observers find this surprising.
Their astonishment stems from the fact that JD Vance, the American senator who is a protégé of Thiel, is billed to become Trump’s vice-president. One would expect that their past relationship will influence his support for the Republican party. However, this is not the case, at least not yet.
So far, Donald Trump has received support from several tech behemoths but a significant portion of his donations are from crypto top shots. His donations from the recently held Bitcoin Conference allegedly topped $25 million.
Even American businessman Gary Cardone revealed that he donated 12.8 Bitcoin to Trump’s Presidential Campaign ahead of the US elections. The target is still to raise $100 million by November when the election will happen.
For now, it is getting more heated between Trump and Vice President Kamala Harris, who President Joe Biden nominated a few weeks back. On Tuesday, Harris announced staggering $50 million advertising push ahead of the Democratic National Convention (DNC).
This marked the first significant ad campaign since Harris emerged as the likely Democratic nominee for the 2024 presidential election.
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