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Former U.S. President Donald Trump has declared that his administration will permit Americans to pay for goods and services with Bitcoin if re-elected.
Donald Trump issued this statement in a fresh interview with CNBC’s Squawk Box on Monday. Bitcoin Magazine took to X to spotlight Trump’s bullish commentary.
JUST IN: 🇺🇸 Donald Trump tells CNBC he "sometimes will let people pay through #Bitcoin" pic.twitter.com/dhbgB2Xep6
— Bitcoin Magazine (@BitcoinMagazine) March 11, 2024
Americans Paying with Bitcoin
During the interview, a CNBC correspondent asked Trump to share his view about Bitcoin as the asset cracking news highs despite the SEC’s regulatory moves.
In reply, Trump expressed his inclination towards engaging in speculative ventures that yield profit “for the fun of it.” He likened his interest in Bitcoin to his involvement with non-fungible tokens (NFTs).
Consequently, the former U.S. president was asked whether he had already purchased Bitcoin. Although Trump admitted to not currently owning Bitcoin, he confirmed his endorsement of the asset class.
In particular, Trump revealed that he intends to allow paying for services with Bitcoin. He emphasized his intention to enable people to participate in the Bitcoin ecosystem, viewing it as a supportive currency alongside the existing fiat system. In his words:
“Sometimes we will let people pay through Bitcoin or will let people get involved in [it].”
No Crypto Crackdown Plans
Per his admission, Trump’s optimistic perspective about Bitcoin and crypto was rooted in the success of his popular NFT collections. Trump noted that he does advocate for one currency, the dollar, and was wary of people moving away from it.
However, he disclosed that during the recent launch of his Trump-branded sneakers lineup, a significant number of people used crypto to pay for the items. Trump expressed surprise at the substantial volume of transactions conducted with this alternative currency.
“So many of them were paid for with this new currency – crypto. I couldn’t believe the amount,” Trump remarked.
In essence, Donald Trump acknowledged the significant role Bitcoin and cryptocurrencies now play in people’s lives. Accordingly, he stated that his administration would refrain from imposing strict regulations on using Bitcoin or other virtual assets.
“There has been a lot of use of that, and I’m not sure that I’d want to take it away at this point,” Trump submitted.