Former U.S. President Donald Trump has actually ended up being a singing advocate of Bitcoin, a plain turnaround from his previous scepticism of Bitcoin and crypto.
In a current interview with Bloomberg Businessweek, Trump asserted that Bitcoin is “not going away” and desires the U.S. to lead in Bitcoin and crypto development before China or any other nation.
NEW 🇺🇸 President Donald Trump states the United States should welcome #Bitcoin and crypto to contend on world phase.
“China is into it. It’s not going away.” 🔥 pic.twitter.com/nnlmpavJC5
— Bitcoin Magazine (@BitcoinMagazine) July 18, 2024
This welcome of Bitcoin represents a significant shift for Trump. His turn-around follows diving into crypto and accepting Bitcoin lightning contributions throughout his 2024 project.
“My experience with it has been amazing,” Trump stated about his Bitcoin and crypto experience. “I’ve seen how it works. It’s been really eye-opening.”
Trump mentioned China’s advances in Bitcoin and crypto as an essential factor the U.S. need to protect 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 stated.
The previous president wishes to see Bitcoin mining flourish in America, stating “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 advocate J.D. Vance now his running mate, Trump appears intent on making Bitcoin and crypto a signature problem. He is set up to provide a keynote speech at the upcoming Bitcoin 2024 conference in Nashville next week.
Trump’s welcome of Bitcoin suggests how far Bitcoin has actually been available in acquiring mainstream approval. And with his chances of retaking the presidency increasing, Trump might quickly remain in a position to execute significant pro-bitcoin policies.
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