Donald Trump Says He Would Not Crack Down On Bitcoin Or Crypto If Elected President

Earlier this week, former president Donald Trump went on CNBC to discuss Bitcoin and other related topics. Among the major points were a new regulatory stance from the presidential candidate, as well as some interesting developments from his recent line of Trump Sneakers.

In terms of regulation, Trump has not always been a fan of Bitcoin. In 2021, he said that Bitcoin was a "disaster waiting to happen" and that he was "not a fan." His stance has changed since then, likely because of the dominance of Bitcoin and ongoing discussions with former presidential candidate Vivek Ramaswamy, who is in favor of crypto. 

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According to Trump, "Bitcoin has taken on a life of its own" and has amassed a ton of popularity. Taking this into account, Trump said that if he were elected president, he would likely not impose new regulations on cryptocurrency.

"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 said.

This is an important stance for the presumptive Republican nominee, as it could have huge implications for crypto come November. If Trump wins the election in several months, crypto enthusiasts would not have to worry as much about the possibility of regulation. This could potentially work to the benefit of crypto as a whole.

Trump also discussed his recent line of Trump Sneakers, which he unveiled at Sneaker Con in Philadelphia. The set of 1,000 Never Surrender High-Tops sold for $399 per pair. However, more notable for crypto fans was Trump's discussion of payment methods that could be used to buy the shoes. "Sometimes we’ll let people pay through Bitcoin … it’s an additional form of currency … so many [of the sneakers] were paid for with the … cryptocurrency," Trump said. 

This was a significant acknowledgment from Trump, who was against Bitcoin less than three years ago. Not only is Trump able to "live with it one way or the other," but he is also willing to accept the token as payment. On top of that, the option to pay with Bitcoin was used for a decent amount of time, according to Trump.

While Bitcoin was meant to be used as a transactional digital currency, don't expect it to overtake the U.S. dollar under a Trump presidency. "I always liked one currency. I call it a currency. I like the dollar." 

So, with the former president and presidential candidate more open to Bitcoin, it will be interesting to see how his stance continues to evolve before the November election. 

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