Trump Says He’s Ready to Live with Bitcoin

TL;DR
1.Trump acknowledges Bitcoin's popularity, favors dollar.
2.Trump expresses skepticism towards Bitcoin.
3.Trump ventures into NFT despite crypto skepticism.
4.Biden remains skeptical of crypto, proposes regulations.
5.Speculations arise over Trump's shifting stance on Bitcoin.

US President candidate Donald Trump has shifted from a previously dismissive stance on Bitcoin to a more nuanced one, saying in a Wednesday interview with Fox News that more people want to pay in Bitcoin and he can live with it. His remarks have been widely shared among users.

Trump's Recognition of Bitcoin's Popularity

Trump acknowledges Bitcoin’s growing popularity and its use as currency, mentioning “a lot of people are doing it” and that “it’s taken a life of its own.” However, Trump’s softer stance doesn’t necessarily indicate that he embraces Bitcoin. He made it clear that his preference remains for the dollar.

Trump's Preference for the Dollar

“I like the dollar,” Trump reiterated his advocacy for the currency. “I’ve always liked one really powerful thing, and that’s called the dollar.”

Trump's Past Skepticism Towards Bitcoin

Trump’s relationship with Bitcoin has been characterized by longstanding skepticism. In a post in 2019, he stated that he was not a fan of Bitcoin and other crypto. He also said in an interview with Fox in 2021 that Bitcoin “seems like a scam,” expressing concerns about its competition with the dollar.

Trump's Engagement with NFT Ventures

Despite Trump’s skepticism toward crypto, he has actively engaged in NFT ventures. Last month, he unveiled a new NFT collection on Bitcoin Ordinals, following the success of two earlier collections that generated significant revenue.

Speculations About Trump's Future Stance on Crypto

Trump’s latest statements come ahead of the 2024 US presidential election. He is currently considered the most potential candidate to represent the Republican Party in the race for the US presidency.

Comparison with Biden's Stance

Meanwhile, his biggest opponent, Joe Biden, has maintained his skeptical view on Bitcoin and crypto. Biden has proposed a number of measures to control crypto, including a 30% tax on crypto mining electricity use, increased capital gains taxes, and control of crypto money laundering transactions.

Trump's Opposition to CBDCs

With Trump’s latest statements, there are speculations about a potential change in his stance towards Bitcoin and crypto. Trump recently voiced his opposition to the development of central bank digital currencies (CBDCs), promising that he won’t let the Fed issue a digital dollar if elected.

Crypto Speculation Grows

Trump's recent acknowledgment of Bitcoin's growing popularity suggests a shift from his previous skepticism, though his preference for the dollar remains steadfast. Despite his engagement in NFT ventures, his stance on crypto remains nuanced, with speculation surrounding potential changes in the lead-up to the 2024 US presidential election.