Former U.S. President Donald Trump, who once opposed cryptocurrencies, now actively supports them, viewing Bitcoin not only for its economic value but also as a symbol of patriotism.
What We Know
As the 2024 election approaches, Trump is calling on Bitcoin miners to rally behind the crypto industry, claiming that Bitcoin mining could be the “last line of defense” against central bank digital currencies. He argues that Biden's rejection of Bitcoin benefits countries like China and Russia, as well as radical left-wing communists.
Trump has met with leaders from major Bitcoin mining companies to discuss ways to support the crypto industry. His campaign has even started accepting cryptocurrency donations, emphasizing Bitcoin’s decentralized nature as a symbol of freedom from "socialist state control."
Trump's stance on technology has shifted on several issues, making his views unpredictable. For instance, after initially attempting to ban TikTok, he later supported its presence in the U.S. Similarly, though he criticized cryptocurrencies in 2019, he now sees them as the "currency of freedom." These policy changes often align with the interests of his financial backers, and for 2024, the Bitcoin community seems poised to back him, viewing the issue as essential to American values.
