Former US president Donald Trump says he is okay with Bitcoin use

On Feb 24, 2024

Donald Trump openly shared his support for Bitcoin (BTC) and admitted that a dedicated regulatory framework is needed for the Bitcoin market.

Donald Trump is 77-year-old American politician, media personality, and businessman who served as the 45th president of the United States. At present, he is at the top of the US presidential election campaign and there are huge chance that he will secure victory against all other candidates.

Until this date, Trump passed many harsh statements against cryptocurrency adoption in the US and called Bitcoin a fraud asset.

In the latest, Trump said that he will always prefer the US dollar over any other currency but he also knows that the adoption & demand of Bitcoin is rapidly surging among people & they are using it in payment services.

Furthermore, he said that he is ok with Bitcoin adoption but he believes that there should be a proper set of rules & laws to regulate such digital asset-based payment services.

Finally ex-US president Donald Trump became a Bitcoin supporter.

Trump: I favor the $, yet #Bitcoin is gaining traction, and I see more people using it. It might need regulation, but it's becoming more accepted. I'm noticing a trend towards Bitcoin payments & I'm ok with it.
— Bitcoinik (@Bitcoinikdotcom) February 24, 2024

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The whole crypto sector is aware that Trump & his family used cryptocurrencies multiple times to launch their collection of NFTs and also made money & popularity but never supported Bitcoin or any other crypto asset.

According to political experts, the change in Trump’s stance on Bitcoin changed rapidly because of the US presidential election race. Probably Trump used Bitcoin to get some more support from the population.

Earlier this already many people were speculating that Trump would support Bitcoin, as Vivek Ramaswamy quit the presidential election race & jumped in support of Trump.

Ramasawamy used the Bitcoin supportive & CBDC ban agenda as a main topic to get public support.

In 2023, many US-based crypto firms faced huge regulatory pressure and some of them shifted their operations outside the US. The US Securities regulatory body SEC initiated several lawsuit actions against multiple crypto companies, even those companies which were providing services under compliance.