7 months ago
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The dollar is still Trump's favorite currency.
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.
“You probably have to do some regulation, as you know, but many people are embracing it,” Trump remarked. “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.”
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.
“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 stance on Bitcoin has been historically skeptical. In a post on X 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.
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.
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.
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.
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.
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