Former US President Donald Trump has become a staunch proponent of bitcoin, a marked shift from his previous skepticism toward bitcoin and cryptocurrencies.
In a recent interview with Bloomberg BusinessweekTrump said bitcoin is “not going away” and wants the United States to lead innovation in bitcoin and cryptocurrencies before China or any other country.
<blockquote class="twitter-tweet”>
NEW President Donald Trump says the United States must embrace twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin and cryptocurrencies to compete on the world stage.
“China is committed to this, but it is not going away.” photo.twitter.com/nnlmpavJC5
— bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1813885350139379730?ref_src=twsrc%5Etfw”>July 18, 2024
This adoption of bitcoin represents a major shift for Trump. His change of heart comes after he delved into cryptocurrencies and accepted bitcoin Lightning donations during his 2024 campaign.
“My experience with this has been incredible,” Trump said of his experience with bitcoin and cryptocurrencies. “I've seen how it works. It's been really eye-opening.”
Trump cited China's advances in bitcoin and cryptocurrencies as a key reason for the US to secure a leadership position. “China is very involved in this. If we don't do it, China is going to take it over. I don't want to be responsible for allowing another country to take over this sphere,” he said.
The former president wants bitcoin mining to flourish in the United States, saying, “We want every bitcoin left to be mined in the United States.” He also opposes a digital dollar, arguing that it would “take away the importance of the dollar.”
With x.com/BitcoinMagazine/status/1812938257988034794″>JD Vance, bitcoin supporter Now, his running mate Trump seems determined to make bitcoin and cryptocurrencies a flagship topic. He is scheduled to give a keynote speech at the upcoming bitcoin 2024 conference in Nashville next week.
Trump's embrace of bitcoin is an indication of how far the currency has come in its journey to mainstream acceptance. And, with his chances of regaining the presidency on the rise, Trump may soon be in a position to implement significant pro-bitcoin policies.
<script async src="https://platform.twitter.com/widgets.js” charset=”utf-8″>
