Donald Trump: From Bitcoin Critic to “Crypto President”

In a June 2023 event, former President Donald Trump surprised many by embracing a new role - completely different from his previous stance.

Tech executive Trevor Traina, present at the fundraiser, shared with Reuters that Trump now portrays himself as the potential “crypto president” – a title he wouldn’t have embraced during his earlier presidency.

During his first term, Trump had expressed strong skepticism about cryptocurrencies, stating in 2019 tweets that he viewed Bitcoin and others as volatile assets, not real money, and based on speculative value.

His stance appeared consistent until at least 2021, when he referred to Bitcoin as potentially fraudulent on Fox Business, emphasizing the need for stringent regulations in the industry.

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However, as the 2024 election approaches, Trump’s perspective has markedly shifted.

Earlier this year, he indicated to CNBC that he was reconsidering his stance on cryptocurrencies, and by May, he asserted that the United States should strive to lead the global crypto industry.

Alexander Stefanov