Categories: Crypto

Trump Calls Bitcoin Experience 'Eye Opening': 'It's Not Going Away'



Former U.S. President Donald Trump has become a vocal supporter of Bitcoin, a stark reversal from his previous scepticism of Bitcoin and crypto.

In a recent interview with Bloomberg Businessweek, Trump asserted that Bitcoin is “not going away” and wants the U.S. to lead in Bitcoin and crypto innovation before China or any other country.

This embrace of Bitcoin represents a major shift for Trump. His turnaround comes after delving into crypto and accepting Bitcoin lightning donations during his 2024 campaign.

“My experience with it has been amazing,” Trump said about his Bitcoin and crypto experience. “I’ve seen how it works. It’s been really eye-opening.”

Trump cited China’s advances in Bitcoin and crypto as a key reason the U.S. must secure a leading position. “China is very much into it. If we don’t do it, China is going to pick it up. I don’t want to be responsible for allowing another country to take over this sphere,” he said.

The former president wants to see Bitcoin mining thrive in America, saying “We want all the remaining Bitcoin to be mined in the USA.” He also opposes a digital dollar, arguing it would “take away the importance of the dollar.”

With Bitcoin supporter J.D. Vance now his running mate, Trump seems intent on making Bitcoin and crypto a signature issue. He is scheduled to give a keynote speech at the upcoming Bitcoin 2024 conference in Nashville next week. 

Trump’s embrace of Bitcoin indicates how far Bitcoin has come in gaining mainstream acceptance. And with his odds of retaking the presidency rising, Trump may soon be in a position to implement major pro-bitcoin policies.



Source link

Washington Digital News

Share
Published by
Washington Digital News

Recent Posts

NASA’s Parker Solar Probe will fly closer to the sun than ever on Christmas Eve

NASA’s Parker Solar Probe is still zipping around the sun making history, and it’s gearing…

10 hours ago

21 Best Part-Time Jobs That Actually Pay Well

Part-time jobs that pay can benefit many people in different situations. However, almost everyone would…

11 hours ago

The race is on to buy an EV while the $7,500 tax credit is a sure thing. Drivers should still go slow and ask these questions.

“Don’t rush into it, but be aware the clock is ticking,” said one new electric-vehicle…

11 hours ago

Maheshri and Winston: “The U.S.’s Decades Long 2nd Great Depression”

In RealClearPolitics, a provocative thesis, from Vikram Maheshri (U. Houston) and Cliff Winston* (Brookings): The…

13 hours ago

Bought Bitcoin at $108,000? Don't Panic

Bitcoin’s price is down over 10% from its all-time high and its critics are taking…

13 hours ago

Stimulus checks of up to $1,400 each are being sent by IRS

© 2024 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance…

13 hours ago