Trump’s Bitcoin Stance Softens: Ex-President Takes a More Positive View

• Former President Donald Trump shifts his perspective on Bitcoin, recognizing its growing popularity and the necessity for regulation.
• Despite his preference for the U.S. dollar, Trump acknowledges the significant role of cryptocurrencies and reveals his personal involvement and success in the digital currency market.

In a recent development reported by International Business Times, former President Donald Trump has shown a notable change in his attitude towards Bitcoin (BTC), the pioneering decentralized cryptocurrency. This shift comes as Bitcoin continues to demonstrate robust performance, recently reaching a new milestone by surpassing the $72,000 mark.

During a CNBC appearance highlighted in a YouTube video by CNF, Trump departed from his 2021 viewpoint, which dismissed Bitcoin as a “scam.” He now recognizes the widespread adoption of Bitcoin, moving away from his earlier criticisms that it posed a threat to the U.S. dollar’s dominance as the global reserve currency. Trump pointed out the growing appeal of Bitcoin and emphasized the importance of its regulation.

However, Trump reiterated his preference for the U.S. dollar, expressing his concern over countries potentially abandoning it. His intrigue with cryptocurrency was further illustrated by his surprise at the high demand for his NFT releases, which were frequently bought using digital currencies. Looking towards the 2024 presidential election, Trump remains cautious but acknowledges the undeniable impact of cryptocurrencies like Bitcoin.

In a recent tweet, Trump reflected on the versatility of cryptocurrency, “If you think about it, it’s another form of currency. We launched a limited edition of 1,000 sneakers, and it was astonishing to see many purchased with cryptocurrency,” during an interview on CNBC’s “Squawk Box.”

"If you think of it, it's an additional form of currency. We did a limited edition sneaker run of 1,000 sneakers. And you could go through crazy new currencies," says @realDonaldTrump on #crypto. "I like staying with the dollar. I hate when countries go off the dollar." pic.twitter.com/8NCg4OplKS

— Squawk Box (@SquawkCNBC) March 11, 2024

Furthermore, in another expression of engagement with digital currencies, Trump tweeted about his profitable experiences with cryptocurrency, stating,

I’ve been having fun and making money with cryptocurrency.

He disclosed that his primary cryptocurrency investment has amassed a value exceeding 5 million dollars.

BREAKING: Donald Trump says he’s been “having fun and making money with cryptocurrency.”$TRUMP @MAGAMemecoin is by far, his number one crypto holding, currently worth over 5 million dollars.

PoliFi is taking over in 2024. pic.twitter.com/Mqh2iWxZg3

— Steven Steele (@MrStevenSteele) March 11, 2024