Donald Trump warms up to Bitcoin, acknowledges it as ‘additional form of currency’

In a shift from his previous skepticism, former U.S. President Donald Trump has recently expressed a more positive outlook on Bitcoin (BTC), referring to it as an “additional form of currency” during an appearance on CNBC.

Trump’s comments mark a significant departure from his 2021 stance, where he dismissed Bitcoin as a “scam” posing a threat to the U.S. Dollar’s status as the world’s reserve currency.

Crypto rally and change of heart

This change in perspective comes amidst a series of positive developments within the Bitcoin ecosystem and a broader rally in the cryptocurrency market.

Trump acknowledged the growing utility and acceptance of Bitcoin, stating,

“There has been a lot of use of that [Bitcoin], and I’m not sure that I would want to take it away at this point.” His remarks reflect an evolving view of digital currencies and their potential to coexist with traditional financial systems.

Despite this softer stance on Bitcoin, Trump reiterated his support for the U.S. Dollar as the primary currency, emphasizing,

I want one currency, I want the dollar, I don’t want people leaving the dollar.

However, his acknowledgment of the interest in his NFT offerings paid for with cryptocurrency illustrates a recognition of the digital asset’s burgeoning popularity and utility.

While Trump remains far from endorsing Bitcoin as a core component of his financial philosophy, his recent comments indicate a growing acceptance of cryptocurrency’s role in the modern economy.

Trump calls for regulation

He also hinted at the need for regulation, suggesting that Bitcoin’s significant growth and integration into financial markets may necessitate a framework to ensure its responsible use.

As the cryptocurrency landscape continues to evolve, Trump’s changing views on Bitcoin highlight the broader shifts in perception among political and financial leaders.

With Bitcoin’s price reaching new highs and the crypto ecosystem expanding, the discussion around digital currencies and their place in the global financial system is becoming increasingly mainstream.

The post Donald Trump warms up to Bitcoin, acknowledges it as 'additional form of currency' appeared first on Invezz