Trump Embraces Bitcoin: From Skepticism to Regulation Recognition

Former U.S. President Donald Trump, known for his skepticism toward cryptocurrencies, has recently acknowledged Bitcoin's increasing popularity and suggested that some level of regulation may be necessary. Speaking at a town hall event ahead of the South Carolina Republican primaries, Trump expressed awareness of Bitcoin's decentralised nature and growing adoption, stating that while he favours the dollar, he recognizes the widespread embrace of Bitcoin and the desire for its use in transactions. This marks a shift from his previous stance against a digital dollar, which he deemed a threat to freedom. Despite his reservations, Trump has reportedly engaged with Web3 technology, including owning millions in a digital wallet and profiting from NFT sales. However, rejecting a digital dollar remains a common viewpoint among Republicans, as seen with the introduction of the CBDC Anti-Surveillance Act by Majority Whip Tom Emmer, who cited concerns about government overreach and privacy.