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Trump describes himself as "Crypto President" At a fundraiser in San Francisco

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President Donald Trump reiterated his support for Bitcoin and the cryptocurrency industry at a high-profile fundraiser in San Francisco on Thursday.

The event, hosted by technology venture capitalists David Sachs and Chamath Palihapitiya at Sachs’ Pacific Heights home, raised $12 million for the Trump campaign, three sources said. Said Reuters. The event was attended by Coinbase executives, the Winklevoss twins, and other industry leaders.

“Trump has said he’s going to be the crypto president,” Trevor Traina, a San Francisco-based technology executive who served as U.S. ambassador to Austria under the Trump administration, told Reuters.

President Trump’s strong pro-crypto stance was further underscored during the event, touting the importance of cryptocurrencies and highlighting his strong support for the sector, Republican National Committee member Harmeet Dhillon told Reuters, but Trump did not offer details on his proposed crypto policy.

While San Francisco is known as a liberal city, Trump’s fundraiser drew support from several prominent local venture capitalists and crypto investors, who cited excessive regulation as their primary concern. “President Trump made it clear that Biden and Gensler’s anti-crypto crusade would be stopped within the first hour of the Trump Administration taking office,” Palantir adviser Jacob Helberg said.

Last week, Donald Trump made history by becoming the first U.S. president to receive a donation to the Bitcoin Lightning Network after recently saying he wanted the future of cryptocurrency to be in the United States, rather than being pushed overseas by strict regulation.

With the 2024 presidential election approaching, President Trump’s stance on Bitcoin and cryptocurrencies is playing a key role in garnering support from the more than 50 million cryptocurrency holders and enthusiasts in the United States, while his opponent, Joe Biden, has taken a tough stance against the industry.

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