In a statement on CNBC on March 11, former US President Donald Trump acknowledged the widespread use of Bitcoin and expressed reluctance to tighten regulations on digital currencies if re-elected. He mentioned that he had observed Bitcoin being “used in many different realms”.
This isn’t the first time the former US President has commented on digital currencies. At a recent event in South Carolina, he suggested that there should be more regulations on this type of currency. In 2021, he even referred to Bitcoin as “a disaster waiting to happen”.
Bitcoin has been on a continuous upward trend for the past few months, especially after US regulators allowed the first Bitcoin ETF funds to be listed on the stock exchange in January.
This latest surge in digital currency is seen as sustainable, with the involvement of large financial institutions, rather than being led by retail investors. On March 11th, the market also received a boost when UK financial authorities announced that they would allow institutional investors to trade bonds related to cryptocurrencies.
With Trump poised to become the Republican Party’s candidate in the upcoming presidential election later this year, these remarks indicate that his administration, if re-elected, may not advocate for measures to restrict the use of Bitcoin and other digital currencies.
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