Former US President Donald Trump says he will “sometimes let people pay” through Bitcoin

• Donald Trump told CNBC in an interview that there has been a lot of Bitcoin use.
• The Former US President has visibly warmed to Bitcoin since labeling the asset a scam in 2021.
• Bitcoin price hit a peak of $72,226 on Binance early on Monday.

Former US President Donald Trump has shifted his stance on Bitcoin. From referring to the largest asset by market capitalization as a “scam,” Trump says the asset has seen a lot of use. The Former President shared his thoughts on Bitcoin in a recent CNBC interview.

Bitcoin price climbed to a high of $72,226 on Monday.

Also read: Gold and Bitcoin make fresh record highs, as stocks pause

Bitcoin could find higher utility in the US if it's up to Former President Trump

In an interview with CNBC Squawk Box, the 45th US President warmed up to Bitcoin. In 2021, Trump referred to Bitcoin as a “scam” and stated that the asset threatens the US Dollar’s status as a world reserve currency.

Former President Trump’s comments follow his recent remarks on Bitcoin, in which he said that BTC had taken a life of its own and the asset “will probably need regulation.”

On a phone call with CNBC, Trump said that there has been a lot of use of Bitcoin. He said,

There has been a lot of use of that, and I'm not sure I'd want to take it away at this point.

Trump said that he will “sometimes let people pay” through BTC.

TRUMP coin sees massive pump

MAGACoin (TRUMP) saw a significant increase in its price on Monday. TRUMP price climbed nearly 26% on Monday as market participants speculate the 45th US President’s win in the 2024 race.

The anticipation of the former President’s win in the 2024 Presidential race has spawned several meme coins in the Solana ecosystem. These are likely high risk and could end in a rug-pull scenario if investors are not careful to do their due diligence before investing.

Crypto trader DK commented on TREMP’s price rally and explained how meme coins level the playing field for traders. Outside of insider transactions, nobody has any advantage and the influencer does not advise pouring large amounts of capital into meme coins like TREMP.

DK’s returns on WHOREN, TREMP, HBODEN and DREM yielded higher returns than other cryptocurrencies in his portfolio in the past three days.

The US elections 2024 have turned into a narrative class of its own among meme coins.

Cryptocurrencies with small market capitalization, meme coins like WHOREN, TREMP, HBODEN, DREM, TRUMP require due diligence and investments could result in losses if the project faces a rug pull. Traders apeing into these projects need to be aware that their capital is at risk.