Trump Says No Ban on Bitcoin if Re-elected as US President

In a surprising statement on February 11, Donald Trump proposed that if he were to be re-elected as the President of the United States, his administration would not prohibit the use of Bitcoin or other cryptocurrencies. “I have seen it being widely used in many sectors, and I am not sure if I want to eliminate it at this time,” the former President declared.

Trump, who is currently a Republican presidential candidate, previously stated on CNBC that he holds traditional views on currency. “I want a currency, I want the dollar. I don’t want people to walk away with their dollars,” he asserted. However, in 2021, he predicted Bitcoin would be a ticking time bomb that would create a disaster.

During a recent event in South Carolina, the former President remarked that there should be regulations for this type of currency. When he launched a new line of expensive sneakers under his Trump brand, many customers paid for the products using Bitcoin. Trump himself was surprised by the popularity of this form of payment. Although he stated that he would not invest in Bitcoin, he expressed his desire for people to be able to transact using digital currency.

Analysts believe that the former President’s comments have contributed to Bitcoin reaching a new all-time high on March 11, when it surpassed $72,000 per BTC. Other cryptocurrencies such as Ethereum, Solana, and Dogecoin also experienced positive price movements.

Bitcoin is now considered to have more stability due to the involvement of reputable financial institutions, rather than being driven solely by retail investors. On March 11, financial authorities in the UK announced that they would allow institutional investors to trade digital asset-related bonds.

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