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U.S. presidential candidate and former President Donald Trump has acknowledged the growing popularity of bitcoin, stating that “a lot of people are doing it” and the crypto has taken on “a life of its own.” Trump further shared: “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.”
Donald Trump on Bitcoin: ‘A Lot of People Are Doing It’
Former U.S. President Donald Trump discussed bitcoin and the upcoming presidential election during a Fox News interview alongside U.S. Senator Tim Scott (R-SC) at a town hall event in Greenville, South Carolina, on Tuesday.
Given his strong opposition to government-controlled central bank digital currencies (CBDCs), Trump was asked if he would embrace bitcoin due to its decentralized nature and growing popularity.
“Well, a lot of people are doing it,” Trump replied, referring to BTC. However, he emphasized: “I always like one currency … I like the dollar.” Nonetheless, the former U.S. president opined:
But a lot of people are doing it and frankly it has 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.
Trump was substantially more critical of bitcoin and other cryptocurrencies while he was president of the United States. “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,” he wrote on Twitter (now X platform) in July 2019. Since leaving office, the former U.S. president has launched three non-fungible token (NFT) collections.
Some people already anticipated a shift in Trump’s crypto stance before Tuesday’s interview as pro-crypto politicians see increasing support. Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark said in September last year: “Crypto-voters might be one-issue voters and are a powerful and passionate constituency, so perhaps former President Trump will change his crypto-tune dramatically.” Republican lawmaker Tom Emmer (R-MN) recently predicted: “If the second Trump administration takes place, [the] president will be a lot more friendly to the crypto industry.”
When asked about what’s at stake in the November election given everything he is facing, Trump replied:
I actually think the life of our country is at stake. I think that this is the most important election we’ve ever had.
While admitting that he said the same thing in 2016, Trump stressed that the current situation is significantly worse, with problems “magnified times 10.” He warned: “We’re going to lose our country, it’s going to be a disaster, and we have to do something … We’re going to get prices down. We’re going to bring this country back … We’re going to make America great again — greater than ever before, and we can still do it. But soon we will never be able to do that because it’ll be too far down the line.”
What do you think about the statements by former U.S. President Donald Trump about bitcoin? Let us know in the comments section below.