Former US President Donald Trump expresses interest in Bitcoin but remains loyal to the US Dollar. Crypto community reacts with caution and optimism.
When questioned about his stance on Bitcoin, United States Presidential candidate for the Republican Party, Donald Trump, acknowledged the growing interest in the cryptocurrency. He noted that while he personally favors the US Dollar, he recognizes the increasing number of individuals embracing Bitcoin and emphasized the need for regulatory measures. Trump stated, “More and more people I am seeing people wanting to pay in Bitcoin,” indicating a shifting trend towards cryptocurrency adoption.
Despite expressing interest in Bitcoin, Trump reiterated his allegiance to the US dollar, stating, “I always like one really powerful thing and that’s called the Dollar.”
Public Response to Trump's Comments
Donald Trump's remarks regarding Bitcoin elicited varied reactions from the crypto community. While some viewed his acknowledgment of Bitcoin's popularity positively, others remained skeptical.
Perianne Boring, founder of the Chamber of Digital Commerce, cautioned against viewing Trump's comments as definitive, labeling them as a "roundabout non-answer." Boring highlighted previous actions taken by the Trump administration, such as blocking spot Bitcoin ETF applications and attempting to outlaw self-hosted wallets, as indications of potential regulatory challenges.
In the aftermath of Trump's comments, the price of Bitcoin experienced a slight decline of over 1% in the past 24 hours, with current trading figures at $51,097. Additionally, trading volume decreased by 20%, signaling a waning interest among traders.