Former US President Donald Trump has become a vocal supporter of Bitcoin, a sharp reversal from his previous skepticism towards Bitcoin and crypto.
In a recent interview Bloomberg BusinessweekTrump stressed that Bitcoin is “not going away” and that he wants the US to become the leader in Bitcoin and crypto innovation before China or any other country.
NEW 🇺🇸 President Donald Trump says America should embrace #bitcoin And pushed crypto to compete on the world stage.
“China is involved in this. This is not going to end.” 🔥 pic.twitter.com/nnlmpavJC5
— Bitcoin Magazine (@BitcoinMagazine) July 18, 2024
The adoption of Bitcoin represents a major shift for Trump. His shift comes after he delved deeper into crypto and accepted Bitcoin Lightning donations during his 2024 campaign.
“My experience with it has been amazing,” Trump said of his experience with bitcoin and crypto. “I've seen how it works. It's been a really eye-opening experience.”
Trump cited China's progress in bitcoin and crypto as a major reason the US should take a leading position. “China is way ahead in this. If we don't do it, China will take it. I don't want to be responsible for allowing another country to take over this area,” he said.
The former president wants to see bitcoin mining flourish in the US, saying “we want all the remaining bitcoins to be mined in the United States.” He also opposes a digital dollar, arguing it would “erode the value of the dollar.”
with Bitcoin supporter JD Vance Now his fellow candidate Trump is intent on making bitcoin and crypto a major issue. He is scheduled to give a keynote address at the Bitcoin 2024 conference in Nashville next week.
Trump's adoption of Bitcoin shows just how far Bitcoin has come in gaining mainstream acceptance. And with his chances of regaining the presidency rising, Trump may soon be in a position to implement major pro-Bitcoin policies.
