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U-Turn? Donald Trump Says He Can Live With Bitcoin

CryptopotatoCryptopotato2024/02/23 20:34
By:Mandy WilliamsMore posts by this author

Regardless of the BTC’s growing adoption and utility, the former U.S. president insisted that he has and will always like one currency: the United States dollar (USD).

Donald Trump, former United States President and candidate in the upcoming elections, has taken a u-turn on his stance against Bitcoin, stating that he can live with it.

During an interview with Fox News, the billionaire acknowledged that BTC, the leading digital currency, is getting a lot of attention and taking a life of its own, stating the need for some regulation around the asset.

Living With Bitcoin

Trump said he had seen some interesting incidents surrounding BTC, like more people wanting to pay for goods and services with the cryptocurrency.

Regardless of the BTC’s growing adoption and utility, the former U.S. president insisted that he has and will always like one currency: the United States dollar (USD).

“You probably have to do some regulation, as you know. But many people are embracing it, and more and more, I’m seeing people wanting to pay “bitcoin,” and you’re seeing something that’s interesting. So, I can live with it one way or the other. I’ve always liked one really powerful thing, and that’s called the dollar,” he stated.

Trump’s recent comments on BTC starkly contrast his popular stance on cryptocurrencies in general. He is known to bash crypto assets and has repeatedly stated that he is not a fan of them.

Trump’s Anti-bitcoin Stance Softens

Three years ago, Trump said investing in crypto assets was a potential disaster waiting to happen. He called Bitcoin a scam, insisting it was fake and blaming it for watering down the greenback.

In addition, the billionaire urged appropriate authorities to regulate cryptocurrencies “very, very high,” as they hurt the USD. He believed tough crypto regulation would take the edge off the dollar and restore Americans’ investment in the currency.

However, Trump’s stance began to soften in 2022 when he announced the launch of his non-fungible token (NFT) collection, which sold out within 24 hours of its release, netting almost a million dollars for the politician. Prior to his NFT launch, Trump’s wife, Melania, released her collection on Solana the year before, using the proceeds to raise funds for foster children’s education.

Meanwhile, Trump vowed earlier this year to prevent the creation of a central bank digital currency in the U.S. if elected president, as they are a threat to freedom.

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Tags: Bitcoin Donald Trump
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Disclaimer: everything in the article represents the author's point of view and has nothing to do with this platform. This article is not intended to be used as a reference for making investment decisions.

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