Key Points
Former President Donald Trump appears to have altered his viewpoint on Bitcoin. This is a departure from his previous skepticism towards the cryptocurrency market.
During a YouTube stream of “The Ingraham Angle” on Fox News, host Laura Ingraham asked Trump for his thoughts on Bitcoin. She was curious about his opinion on its decentralized nature and widespread appeal.
Trump’s Views on Bitcoin
Trump acknowledged Bitcoin’s growing popularity. However, he expressed a preference for traditional currency. He stated, “A lot of people are doing it. I always like the one currency. I like the dollar.”
Additionally, Trump recognized the potential need for regulatory oversight due to Bitcoin’s increasing adoption. He commented, “Frankly it has taken a life of its own. You probably have to do some regulations.”
He also noted a growing number of people are using Bitcoin as a mode of payment. He said, “Many people are embracing it and more and more I am seeing people wanting to pay in Bitcoin.”
Despite Bitcoin’s increasing popularity, Trump maintained his longstanding position on digital assets. He emphasized, “I can live with it one way or the other. I have always liked one really powerful thing and that’s called the dollar.”
In January 2024, Trump strongly opposed the idea of the U.S. creating its own central bank digital currency (CBDC). He cited concerns about potential risks to individual liberties.
He warned of the government gaining extensive control over financial matters. This includes the ability to seize funds and monitor transactions without consent.
Ex-presidential candidate Vivek Ramaswamy highlighted this in a recent post. He quoted Trump saying, “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 Currency.”
In 2019, Trump openly opposed Bitcoin and other cryptocurrencies. He claimed they lacked intrinsic value and were merely “based on thin air.”
His stance remained consistent in 2021. He reiterated concerns over the risks associated with cryptocurrencies, labeling their usage as “very dangerous.” He also likened Bitcoin to a “scam.”
Therefore, his recent change of mind might pique the interest of people in the crypto community.
