All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Former U.S. President and current running candidate Donald Trump seems to be opening his arms to Bitcoin.
- Trump remains loyal to the U.S. dollar, which he considers to be the most reliable currency in the nation.
As the presidential elections draw near, Presidential candidates are increasing campaign efforts and outlining their plans for the future. Donald Trump, a notable presidential candidate, has laid out some of his plans while asserting his position on industries like crypto.
In a recent appearance on the Ingraham Angle on Fox News, Fox News host Laura Ingraham, quizzed the Presidential candidate on his position on the apex cryptocurrency Bitcoin, particularly if adopting Bitcoin will be part of the foreseeable future.
“….But isn’t the next logical step for you to embrace Bitcoin? Because Bitcoin is decentralized, the government can’t get its hands on it…. What about Bitcoin [or]all the young people, including African-Americans who are very interested in it?” The host asked, halfway into the interview.
In response, Donald Trump revealed that he was well aware that adoption for the asset is increasing, saying that he is familiar with a handful of people involved with Bitcoin. He sarcastically stated that the dollar is still his preferred currency, which is also widely adopted globally.
The U.S dollar is still Trump’s favorite currency
However, with Bitcoin, Trump noted that the asset has become incredibly important and exists independently from other currencies. As such, regulatory framework work has become essential.
As Trump explained;
“ Frankly, it [Bitcoin] has taken on a life of its own. You probably have to do some regulations, but many people are embracing it, and more and more, I’m seeing people wanting to pay [in]Bitcoin, and you’re seeing something that’s interesting. So I can live with it one way or the other. I’ve always liked one really powerful thing, and that’s called the dollar.”
Although Trump’s statement is not confirmation that the U.S. will open its doors to crypto if the former President wins the upcoming election, Italy’s significant growth for Trump, who has been previously vocal about his dislike for the asset.
Back in 2019, Trump revealed that he was not a fan of Bitcoin and other digital currencies, as he doesn’t consider them to be “money.” He cited Bitcoin’s volatility and lack of regulation as factors supporting his position while adding that Bitcoin could be instrumental in facilitating illegal activities and unlawful behaviors. He branded the US dollar as the most reliable currency in the currency.
Meanwhile, the weekend reflects a collective correction within the broader cryptocurrency market, and as a result, the apex cryptocurrency has been making an upward recovery.
Recall that Bitcoin previously tapped the $52,000 for the first time since 2021. The asset has since corrected downwards and now trades at a press time price of $51,096
