The former US President, who had earlier not advocated for crypto, admitted recently that the growing adoption of Bitcoin is a reality, while its demand has also spiked.
Donald Trump, the Republican frontrunner candidate for the US presidential elections in 2024, recently spoke on the adoption of Bitcoin. The former US President acknowledged Bitcoin’s growing demand and its wide use cases. Moreover, he said Bitcoin has ‘taken a life of its own,’ admitting that BTC was here to stay for the long term.
Trump made the comments at a recent media event when he was asked a question about BTC. His opinions regarding crypto are widely circulated in the crypto community as well. Earlier, he was a staunch opponent of crypto. As a result, his changing view on Bitcoin may come as an encouraging signal for the crypto community.
When asked about Bitcoin, Trump noted how a lot of people had started using Bitcoin for payments. Further, he said, “You probably have to do some regulation, as you know, but many people are embracing it. And more and more, I’m seeing people wanting to pay Bitcoin, and you’re seeing something that’s interesting. “
He especially mentioned crypto regulation, which is noteworthy considering the crypto regulatory climate in the US. Although the US does not have a definite crypto regulatory law, calls for such a crypto law have only grown louder. Senior officials like the US Treasury Secretary have also supported crypto regulatory laws.
At the same time, a few crypto bills in the US are also waiting for approval. Lawmakers introduced the crypto bills back in 2023 but haven’t seen their progress in the respective state senate or congress yet. The various crypto bills focus on subjects like crypto mining, stablecoins, etc. Hence, Donald Trump’s statement is a positive development for the crypto sector at this juncture.
Millionero’s blog regularly brings more such news reports for you to stay ahead in the world of crypto!