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It “came to life”
Former President Donald Trump said Bitcoin had “come to life” when asked whether the United States should adopt the cryptocurrency on a Fox News show. event at the town hall ahead of the South Carolina Republican primary last week.
“It’s probably going to take some regulation, but a lot of people are accepting it. I see more and more people wanting to pay in Bitcoin, and that’s an interesting thing, so I can live with that one way or another,” Trump said.
This is a change in stance on crypto. In 2021, Trump said crypto was a “a disaster waiting to happen” and that he wasn’t a “big fan.” However, his most recent comments seem to imply that Trump recognizes how big Bitcoin has become.
Since October, the price of Bitcoin has increased by more than 50%, continuing a generally strong 2023. That price increase, along with the approval of Bitcoin cash exchange-traded funds (ETFs) in January, may have been enough to prompt the former president to reconsider his views on Bitcoin.
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However, Trump’s position on Bitcoin is very different from his position on central bank digital currencies (CBDCs). In late January, Trump said that he “never allow” CBDCs during a campaign speech in New Hampshire. He said a CBDC in the United States would give the government “absolute control” over money, which could allow it to seize funds or monitor transactions.
Trump’s stance on various forms of cryptocurrencies is becoming increasingly relevant as states hold their Republican primary elections. Trump, whose opponent is Nikki Haley, has performed well in recent primaries, including winning the primary in Haley’s home state of South CarolinaWith each victory, it seems more likely that Trump will become the Republican presidential nominee.
Trump is also in talks with Vivek Ramaswamy regarding CBDCs and crypto in general. Ramaswamy was a former presidential candidate, but he dropped out of the race in January and supported Trump. Ramaswamy has openly expressed his support for cryptocurrency, but was against CBDCs. Trump’s change of heart on Bitcoin could be linked to conversations with Ramaswamy.
Although Trump appears increasingly interested in Bitcoin, he has reiterated that the dollar is his currency of choice. “I’ve always loved a currency. I call it a currency. I love the dollar,” he said.
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As the presidential race heats up and certain issues come into focus, it will be extremely important to observe how Trump and other candidates talk about Bitcoin and crypto in general.
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This item Donald Trump on Bitcoin: “Bitcoin has taken on a life of its own” originally appeared on Benzinga.com
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