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Donald Trump Can Now Live with Bitcoin, Acknowledging its Popularity

Former US President Donald Trump has shifted his stance on Bitcoin, acknowledging the growing demand for the flagship digital asset in a recent Fox News interview. While recognizing Bitcoin’s increasing popularity among younger demographics, he reiterated his loyalty to the US dollar, stating,

[Bitcoin’s] taken a life of its own. You probably have to do some regulation. But many people are embracing it. More and more I’m seeing people wanting to pay bitcoin. And you are seeing something that’s interesting. I can live with it one way or the other.

This marks a significant change from his earlier anti-crypto rhetoric in 2021 when he labeled Bitcoin as a “scam against the dollar” and called for regulatory scrutiny. Trump’s skepticism then stemmed from perceived risks associated with cryptocurrencies, such as volatility and susceptibility to illicit financial activities.

Since leaving office, Trump’s attitude towards digital assets has softened. He has ventured into the NFT space, launching collections like the Trump Digital Trading Cards series 1 and 2. Additionally, an Ethereum wallet linked to him moved millions in funds last year.

Trump has emerged as a vocal opponent of a central bank digital currency (CBDC) in the US, citing concerns about increased government surveillance and control over individuals’ finances. He argued that CBDCs pose a threat to personal privacy and foundational principles of freedom and autonomy, pledging to prevent their introduction if re-elected in the ongoing 2024 US Presidential elections.

Notably, Trump enjoys support from pro-crypto figures like Florida Governor Ron DeSantis and Vivek Ramaswamy among former candidates in his current campaign.

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