Donald Trump Embraces Crypto Payments, Still Champions the Dollar
Trump's shifts stance on crypto allows Bitcoin payments while upholding the dollar's dominance
Donald Trump's view on cryptocurrencies has notably shifted from skepticism to recognizing their value for payments. In a recent CNBC interview on March 11, the ex-president and presidential candidate mentioned he has allowed payments in Bitcoin, marking a significant change from his earlier view of Bitcoin.
Trump shared that he has found profit in the crypto world despite not owning Bitcoin directly. He also noted the practical application of cryptocurrencies in transactions, especially highlighting that limited edition sneakers he sold were often bought with what he calls "crazy new currencies."
This venture saw a pair of sneakers sell for an astonishing $450,000, with many purchases made in cryptocurrency.
Despite warming up to digital currencies for transaction purposes, Trump remains a staunch supporter of the U.S. Dollar (USD), emphasizing its importance as the world's leading currency.
He stressed that losing the dominance of the USD would be akin to losing a crucial battle, showing his commitment to maintaining the dollar's supremacy while accepting cryptocurrencies in a regulated setting.
This balanced perspective underscores a cautious yet open approach to integrating digital currencies into the economy, without compromising the traditional financial system.
The introduction of a 'Payment' category by Binance, listing several cryptocurrencies including Bitcoin and Litecoin, reflects a growing trend towards using digital currencies for payments, hinting at their potential role in future financial markets.
