Trump Calls Bitcoin Experience ‘Eye-Opening’: ‘It’s Not Going Away’

Former US President Donald Trump has become an ardent supporter of Bitcoin, a stark contrast to his previous skeptical stance on Bitcoin and cryptocurrencies.

In a recent interview with Bloomberg Businessweek, President Trump insisted that Bitcoin “is not going away” and said he wants the U.S., rather than China or other countries, to lead the way in Bitcoin and cryptocurrency innovation.

NEW 🇺🇸 President Donald Trump said the United States #bitcoin And it helps cryptocurrencies compete on the global stage.

“China is into it. It’s not going away.” 🔥 pic.twitter.com/nnlmpavJC5

— Bitcoin Magazine (@BitcoinMagazine) July 18, 2024

Embracing Bitcoin marks a major shift for Trump, whose reversal comes after he explored cryptocurrencies and received Bitcoin lightning donations during his 2024 campaign.

“My experience with it has been eye-opening,” Trump said of his experience with bitcoin and cryptocurrencies. “I’ve seen how it works. It’s been eye-opening.”

Trump cited China’s advances in bitcoin and cryptocurrencies as a key reason why the U.S. should take a leading position. “China is very keen on it. If we don’t do it, they will catch up. I don’t want to be responsible for letting other countries dominate this space,” he said.

The former president wants bitcoin mining to flourish in the United States, saying, “We want every remaining bitcoin to be mined in the United States.” He also opposes a digital dollar, claiming it would “eliminate the importance of the dollar.”

With Bitcoin supporter JD Vance as his running mate, Trump appears set to make Bitcoin and crypto a signature issue. He is scheduled to deliver a keynote address at the Bitcoin 2024 conference in Nashville next week.

Trump’s embrace of Bitcoin shows how far Bitcoin has come in gaining mainstream acceptance. And with the odds of him reclaiming the presidency, Trump could soon be in a position to implement major pro-Bitcoin policies.