Donald Trump accepts Bitcoin Lightning Network payments for campaign donations
Donald Trump has become the first U.S. president to accept Bitcoin Lightning Network payments for campaign donations to support his 2024 presidential campaign. This partnership with OpenNode, a Bitcoin and Lightning Network infrastructure provider, enables fast and low-cost Bitcoin transactions that directly benefit his campaign. The Bitcoin Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain (a decentralized database) that enables fast transactions. Trump's adoption of this crypto platform underscores his commitment to promoting Bitcoin and cryptocurrencies in the United States.
Trump supports more freedom in crypto
During a Libertarian Party convention, he also voiced support for more freedoms in crypto, including the right to self-custody - the right to manage one's own cryptocurrencies without a middleman - for America's 50 million crypto users. Additionally, Trump promised to reduce the sentence of Ross Ulbricht, a well-known figure in the early Bitcoin community, if he is re-elected. Ulbricht is the founder of the online black market Silk Road and is currently serving a life sentence.
Trump highlights innovative approach to financing
The decision to accept Bitcoin donations not only highlights Trump's innovative approach to campaign funding, but also aims to resonate with the large crypto community in the US. In contrast, current President Joe Biden recently vetoed a bill that favored Bitcoin, indicating a more cautious stance toward cryptocurrency integration by the current administration. A veto is the president's right to reject a passed bill. Trump's strategy shows a clear focus on technological advancement and the interests of cryptocurrency enthusiasts.
The Bitcoin miner for your desk
