Trump's Stance on Bitcoin Has Softened
Donald Trump has softened his stance on Bitcoin and cryptocurrencies, as he discussed in one of his latest interviews.
Former U.S. President Donald Trump has appeared to have changed his previously skeptical views on Bitcoin. In a recent interview with the Fox News Channel, Trump was questioned about his thoughts on this digital asset by host Laura Ingraham.
Trump acknowledged that Bitcoin is becoming increasingly popular, but he emphasized the importance of cryptocurrency regulation due to its widespread use. He noted that more people are choosing to use Bitcoin as a means of payment, and he expressed his desire to see a more regulated cryptocurrency market.
Describing the cryptocurrency market in general, Trump only said that he could well accept its existence.
"I can live with it one way or the other. I have always liked one really powerful thing, and that’s called the dollar," the former American president emphasized.
This month, Trump had previously criticized the nature of CBDC, highlighting the potential for individual liberties to be compromised. He was supported in his view by former presidential candidate Vivek Ramaswamy, who also expressed concerns about the risks associated with CBDC.
President Trump just made a new promise in New Hampshire tonight & I have *full* confidence he will keep it:
— Vivek Ramaswamy (@VivekGRamaswamy) January 18, 2024
“Tonight, I am also making another promise to protect Americans from government tyranny. As your president, I will never allow the creation of a Central Bank Digital… https://t.co/HRbgiUwX68
In 2019, President Trump drew attention to cryptocurrencies by referring to them as "something made out of thin air". This has been his opinion until now. However, ahead of the upcoming election, there has been an unexpected change in his stance on cryptocurrencies. This may attract more support from the cryptocurrency community, making Trump different from incumbent Joe Biden, who has taken a more negative stance towards cryptocurrencies and risks alienating young voters.
Due to this softer stance towards Bitcoin, the so-called memecoin, MAGA, which is not directly related to Trump himself, has seen an increase in popularity. Immediately following the interview, the price of MAGA reached an all-time high of $7.9.
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Trump's cryptocurrency wallet has reached a value of $5 million, with most of the gains coming from the MAGA memecoin that was once sent to his wallet by its creators. The $1 million profit also resulted from NFT sales. It remains unknown whether the billionaire intends to realize his profit from MAGA tokens. Notably, the Trump family plans to file a lawsuit against the creators of Trumpcoin, alleging that they misused the family's name without authorization.
