- Changes his mind on cryptocurrencies, now considering them compatible with the financial system, moving away from calling them a “scam.”
- Trump opposes CBDCs if re-elected, reflecting a more nuanced view on digital currencies in his campaign.
Former President Donald Trump has recently taken a more receptive stance toward cryptocurrencies, especially Bitcoin, by acknowledging their expansion as an alternative form of currency.
Although he has had interactions with digital currencies, as we mentioned in ETHNEws, Trump specified that he has not made acquisitions of them. His more open attitude has manifested itself throughout his current U.S. election campaign, signaling a shift from his previous views on the cryptocurrency sector.
Despite this new stance, Trump has maintained his preference for traditional assets, identifying himself as a defender of the US dollar. In recent conversations, he reaffirmed the vital importance of preserving the dollar’s role as the world’s primary reserve currency.
JUST IN: 🇺🇸 President Donald Trump says #Bitcoin is an "additional form of currency" with a lot of use. pic.twitter.com/TrPLqCKeWE
— Watcher.Guru (@WatcherGuru) March 11, 2024
He drew an analogy between losing this status and facing significant defeat, underscoring the adverse impact this would have on the U.S. economy.
However, Trump has admitted the growing popularity and utility of cryptocurrencies such as Bitcoin, recognizing them as a viable monetary option.
Donald Trump suggested that if elected president again his administration would not crack down on the use of bitcoin or other cryptocurrencies through regulatory authority. https://t.co/UD78qyApuy pic.twitter.com/P9O0ZMUTVN
— CNBC (@CNBC) March 11, 2024
“I used to prefer a single currency, the dollar. I didn’t want people to move away from the dollar. I still believe that, but I have to admit that Bitcoin has taken on a relevant role,” Trump commented, showing greater acceptance toward cryptocurrencies coexisting with the dollar.
Additionally, Trump has expressed his rejection of central bank-issued digital currencies (CBDCs), promising to ban them if re-elected. This position reflects a deeper understanding and thoughtful stance on digital currencies, integrating them into his campaign strategy.
Despitehis strong support for the US dollar, Trump’s recent openness towards value and the inclusion of digital assets such as Bitcoin highlights his recognition of the need for monetary adaptation today.
His latest statements on this new asset class coincide with a moment of optimism in the cryptocurrency market, driven in part by the acceptance of spot Bitcoin ETFs in the U.S., offering an interesting perspective in the context of the upcoming election contest.
