Trump’s Crypto Embrace: From “Disaster” to “I’m Good With It”

Trump's Crypto Embrace: From "Disaster" to "I'm Good With It"

Former U.S. President Donald Trump has expressed a positive outlook toward cryptocurrencies, marking a potential shift in his stance on digital assets.

Notably, Trump’s affirmation came in response to inquiries about his position on crypto during a recent public appearance. In a statement, he declared, “I’m good with it,” signaling a willingness to embrace the burgeoning industry.

Further, in response to inquiries about crypto during his appearance, Trump acknowledged the exodus of crypto businesses from the US due to regulatory hostility. He emphasized the importance of addressing these challenges, stating, “If we’re going to embrace it, we have to let them be here.

The presidential candidate also criticized the Biden administration for erecting high barriers to the crypto industry through stringent regulations enforced under the watch of SEC’s Gary Gensler.

“Biden doesn’t even know what (crypto) is…The democrats are very much against it and I say this…a lot of people are very much for it and I’m fine with it, I want to make sure it’s good and solid,” added Trump.

That said, Trump’s affirmation has stirred discussions within the cryptocurrency community. Trump’s stance could have significant implications for the future of digital assets in the United States should he clinch the presidency in the upcoming elections.

In a Thursday tweet, Messari Ryan Selkis, CEO of crypto analytics firm, praised Trump for his stance on crypto-generated attention.

However, not everyone is convinced about Trump’s stance. Some see it as a political gimmick to garner support from younger generations, who are the biggest players in the sector.

“The devil is in the detail. He hated #Bitcoin last time he was in power. Now he wants the “crypto” vote? Will US policy towards BTC get worse or better under Trump?” wrote Simon Dixon, founder of crypto investment firm Bank of the Future.

Notably, this is not the first time Trump has shown his support for crypto despite his apparent hostility to the sector in the past. In addition to launching several highly profitable NFT projects in the past, in early March, Donald Trump presented a more neutral viewpoint on crypto, particularly during an interview with CNBC.

I have seen there has been a lot of use of that, and I’m not sure that I’d want to take it away at this point … I can live with it one way or the other,” Trump stated when asked about his stand on Bitcoin.

Notably, this is reversed from his comments in 2021, where he had said that crypto is a “disaster waiting to happen.”

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