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Donald Trump believes Bitcoin has gained its own momentum and calls for regulatory measures

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Donald Trump Says Bitcoin Has ‘Taken A Life Of Its Own’, Calls For Regulations

Former United States President Donald Trump has talked about the increasing popularity of Bitcoin (BTC) and the significance of having a regulated environment for the asset.

During a recent Town Hall interview with Fox News host Laura Ingraham, Trump mentioned the growing adoption of Bitcoin and how the asset has ‘taken a life of its own’.

Trump also emphasized the need for regulations to manage the cryptocurrency properly if it were to be officially embraced in the US.

However, Trump expressed doubt about the potential use of Bitcoin as currency, stating his preference for a single legal tender like the dollar.

“But many people are using it [Bitcoin], and it has really taken off. You might need some regulation, as you already know, but a lot of people are accepting it. I’m seeing people interested in paying with Bitcoin, and it’s quite intriguing to see, so I can accept it either way,” he stated.

Trump’s past Bitcoin skepticism 

This represents a significant shift in Trump’s views on cryptocurrencies, considering his severe criticism of Bitcoin during his presidency, where he referred to it as not being real money and having a volatile value based on “thin air.”

“I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” he declared in 2019.

Trump’s comments come amidst the ongoing discussions about cryptocurrency regulations, as governments worldwide debate how to handle the rapid growth of digital currencies.

Furthermore, Trump’s position follows his promise to block any potential creation of a central bank digital currency (CBDC) if elected. He believes in outlawing a CBDC to safeguard financial privacy and uphold the Second Amendment.

“I will firmly support the Second Amendment. I will not allow the introduction of a central bank digital currency that can steal your money. We will safeguard innocent life and we will reinstate freedom of speech,” noted Trump.

Despite his doubts about cryptocurrencies during his presidency, it is noteworthy that Trump has delved into the world of non-fungible tokens (NFTs) by launching three collections since leaving office.

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