Ahead of the 2024 US presidential election, the future of cryptocurrency and its regulation has become a topic of discussion among voters.
On Thursday, a regulatory financial filing from Republican candidate Donald Trump showed that the first The president owns over $1 million in crypto, showing Silicon Valley that the presidential candidate may have favorable crypto policies stemming from self-interest.
Related: Mark Cuban says he's received 'numerous questions' from Kamala Harris about crypto
The financial filing said Trump owns a cryptocurrency wallet and a “virtual Ethereum key,” which, depending on current markets, can range in value from $1 million to $5 million.
Trump's current stance on crypto is a hands-off approach that allows the market to self-regulate.
The former President now also accepts cryptocurrencies, such as Bitcoin, as funding for his campaign, signaling a strong departure from his previous stance that crypto was a “fraud” and “disaster waiting to happen.”
In an interview with BloombergTrump defended US Bitcoin mining to curb China's growing influence over the market.
“If we don't, China will figure it out and China will have it — or someone else,” Trump said.
Last month, Mark Cuban said decode in an interview that he had fielded calls from Democratic candidate Kamala Harris' team about cryptocurrencies and market advice.
Related: Musk and Trump hit with federal labor charges via live stream
Cuban then accused Silicon Valley leaders who support Trump of doing it as a “bitcoin game.”
“What will drive the price of BTC are lower tax rates and fees, which if history is any guide (and it's not always), will be inflationary,” Cuban. explained in X. “Combine this with global uncertainty regarding the geopolitical role of the US and the impact on the US dollar as a reserve currency, and you couldn't align the stars better for a BTC price acceleration.”