Donald Trump Endorses Bitcoin, Pushing it above $57,000!
Former United States President Donald Trump has radically changed his opinion on Bitcoin!
In an interview on Fox News, Donald Trump said he “prefers the US dollar” but acknowledges that Bitcoin has taken “a life of its own.” Trump admits its popularity but cautions against the need for regulations if cryptocurrencies were formally embraced in the US.
“I like the dollar, but many people are doing it [using Bitcoin], and frankly, it’s taken a life of its own. 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.”
From Crypto Sceptic — To Crypto Bull
Trump’s view comes as he prepares for the 2024 presidential campaign. Observers view this as an attempt to widen his support base to attract tech-oriented voters. With the increased adoption of cryptocurrency assets, this move places him within a growing trend of politicians appealing to it.
Throughout Trump’s presidency, he was known for his scepticism towards Bitcoin, even directing actions against it. In 2021, in an interview on Fox Business, Trump said, “Bitcoin, it just like a scam.” Additionally, he urged authorities to regulate cryptocurrencies “very, very high” as they hurt the USD. The competition between Bitcoin and USD was the main reason for his dislike.
“I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” said Trump back in 2019.
Why Donald Trump Holds $5 Million Worth of Ethereum
Trump’s stance began to soften in 2022 when he announced the launch of his NFT collection called “Collect Trump Cards” on Polygon. His collection rapidly sold out, and within 24 hours of its release, he had gained several millions of dollars. The Ethereum he has gained from those NFT sales are currently worth of $5M!
The discussion of Bitcoin and digital currencies within the political arena reflect growing influence on global finance and electoral politics. As candidates like Trump adjust their views, the crypto community watches closely, aware of the potential impact on policy and regulation.
