Trump's Bitcoin And Crypto Policy Shift Reflects 'Maturity,' Says Chamber Of Digital Commerce CEO: 'Come A Very Long Way'

Perianne Boring, the CEO of the Chamber of Digital Commerce, discussed Donald Trump’s evolving stance on Bitcoin BTC/USD and cryptocurrency, attributing it to a deepened understanding of the technology and its global transactional benefits.

What Happened: Boring, speaking on CNBC’s Last Call, highlighted Trump’s transformation into a pro-crypto advocate for the Republican Party’s entire platform. She emphasized the importance of a pro-crypto stance for any future White House occupant.

“Donald Trump has come a very long way in his crypto policy,” she said.

“He’s now matured into adopting a pro-crypto position for the entire GOP platform.”

"Donald Trump has come a very long way in his crypto policy," says @PerianneDC on the Republican Party's crypto-positive platform. "He's now matured into adopting a pro-crypto position for the entire GOP platform." $BTC #Bitcoin pic.twitter.com/cScitd5bPR

— Last Call (@LastCallCNBC) July 9, 2024

Boring, who has been recognized as one of “America’s Top 50 Women in Tech” by Forbes and one of the “10 Most Influential People in Blockchain” by CoinDesk, linked Trump’s shift to an increased understanding of crypto technology and its global transactional benefits.

See Also: While Bitcoin, Ethereum, Shiba Inu Witness A Meltdown, This Solana-Based Memecoin Has Surged 147% In Last Week

Why It Matters: In May, Trump expressed support for the asset class during a speech at the Libertarian National Convention. He further pledged to end President Joe Biden’s “War on Crypto” if re-elected, a stance that contrasted sharply with Biden’s approach.

Trump also received $2 million in Bitcoin donations from Tyler and Cameron Winklevoss, co-founders of the cryptocurrency company Gemini. They called Trump “the pro-Bitcoin, pro-crypto, and pro-business choice.”

Trump’s shift in policy stance has been seen as a strategic move to court the crypto community, with his Mar-a-Lago club event in May being a direct appeal to crypto enthusiasts, urging them to vote for him due to the current administration’s stringent regulatory stance on the industry.

However, Trump’s reported $33 million crypto portfolio peak in July has now dropped to $8 million, reflecting the volatility of allocating most holdings to tokens without utility amid a Bitcoin pullback.

Price Action: Bitcoin closed at $59,143.70, marking a gain of 1.89% in the last 24 hours. Year to date, Bitcoin has surged 33.89%, according to data from Benzinga Pro.

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Image Via Shutterstock

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote