Former President and contender for the US presidency Donald Trump has recognized that more and more people are using bitcoin, saying that it has “taken on a life of its own” and that “a lot of people are doing it.” Trump continued, saying, “I can live with it one way or the other because I’m seeing more and more people wanting to pay with bitcoin and you’re seeing something that’s interesting.”
Regarding Bitcoin, Donald Trump said, “A Lot of People Are Doing It”
At a town hall meeting in Greenville, South Carolina, on Tuesday, former US President Donald Trump spoke with US Senator Tim Scott (R-SC) and Fox News about bitcoin and the impending presidential election.
Trump was questioned about whether he would support bitcoin because of its decentralized structure and rising popularity, given his vehement opposition to central bank digital currencies (CBDCs) that are under government control.
In response, Trump said, “Well, a lot of people are doing it,” mentioning Bitcoin. But he made it clear, saying, “I always like one currency… I like the dollar.” Even so, the former US president expressed his opinion:
However, a lot of people are engaging in it, and to be honest, it has become its own thing. As you are aware, regulations need some work on your part, but many individuals are accepting this. I can deal with it any way because I’m seeing more and more people wanting to pay with bitcoin and you’re seeing something interesting.
During his time as US president, Trump was far more critical of bitcoin and other cryptocurrencies. In July 2019, he posted on Twitter (now the X platform): “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.” The former US president has introduced three non-fungible token (NFT) collections since taking office.
Before Tuesday’s interview, some had already predicted that Trump’s position on cryptocurrency would change, given the growing popularity of politicians who favor it. According to John Reed Stark, a former commissioner of the Securities and Exchange Commission (SEC), in September of last year, “Crypto-voters are a powerful and passionate constituency, so perhaps former President Trump will change his crypto-tune dramatically.” Tom Emmer, a Republican lawmaker from Minnesota, recently made the following prediction: “If a second Trump administration occurs, the president will be much more friendly to the cryptocurrency industry.”
Given what he is going through, what is at stake in the election in November? Trump responded as follows:
Actually, I believe that our nation’s survival is in jeopardy. This election, in my opinion, is the most significant one we’ve ever had.
Trump emphasized that the current state of affairs is much worse, with issues “magnified times 10,” even though he acknowledged that he made the same statement in 2016. He issued a dire warning, saying, “We have to act now or else we will lose our country and there would be a catastrophe. We intend to reduce pricing. We intend to restore this nation. America will once again be great—greater than it has ever been—and we still have it in us. But that will be too far down the line for us to accomplish that anytime soon.
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