Former US President Donald Trump has become an outspoken supporter of Bitcoin, marking a stark shift from his previous skepticism about Bitcoin and cryptocurrencies.
In a recent interview with Bloomberg BusinessweekTrump has stressed that Bitcoin is “not going away” and wants the United States to lead innovation in Bitcoin and cryptocurrencies before China or any other country.
NEW 🇺🇸 President Donald Trump says the United States must adopt #Bitcoin And cryptocurrencies to compete on the global stage.
“China is interested in this, and will never give it up.” 🔥 pic.twitter.com/nnlmpavJC5
— Bitcoin Magazine (@BitcoinMagazine) July 18, 2024
This adoption of Bitcoin represents a major shift for Trump. It comes after his foray into cryptocurrencies and accepting massive Bitcoin donations during his 2024 campaign.
“My experience with it was amazing,” Trump said of his experience with Bitcoin and cryptocurrencies. “I saw how it works. It was a really great experience.”
Trump cited China’s advances in Bitcoin and cryptocurrencies as a key reason why the United States should take a lead. “China is very interested in this,” he said. “If we don’t do it, China will take it. I don’t want to be responsible for letting another country take it.”
The former president wants to see Bitcoin mining flourish in America, saying, “We want every last Bitcoin to be mined in the United States.” He also opposes a digital dollar, arguing that it would “devalue the dollar.”
with Bitcoin supporter JD Vance Trump, now his vice president, seems determined to make Bitcoin and cryptocurrencies a mainstream issue. He is scheduled to deliver a keynote speech at the upcoming Bitcoin 2024 conference in Nashville next week.
Trump’s embrace of Bitcoin shows just how far Bitcoin has come in gaining mainstream acceptance, and with his chances of returning to the presidency rising, Trump could soon be in a position to implement major pro-Bitcoin policies.