KEY POINTS
- He said crypto businesses were leaving the US because of hostile regulations
- He also said he will "make sure" his supporters can donate to his campaign using crypto
- Several years back, Trump said Bitcoin seemed like a "scam," but he is now "fine" with digital assets
Republican presidential frontrunner Donald Trump, during an event at his Mar-a-Lago estate in Florida on Wednesday, said he will "stop" the hostile approach of government regulatory entities toward cryptocurrencies.
The GOP presidential candidate hosted an event for nonfungible token (NFT) owners Wednesday, wherein he blasted the Biden administration for what he said was hostility toward the digital assets sector.
Malcolm Degods, chief of staff at NFT firm De Labs, spoke to Trump Wednesday, telling him that many of the "smartest people in crypto" were moving their businesses outside of the United States due to the country's crypto regulations. Trump agreed. "Crypto is moving out of the U.S. because of hostility," he said. The attendee pressed the Republican on how he will "stop" such hostility.
i asked donald trump how he’s going to keep crypto businesses in america.
— Malcolm (33.3%) (@macdegods) May 9, 2024
sounds bullish 🇺🇸 pic.twitter.com/rvuztPmQ8P
"Well, we'll stop it ... If we're going to embrace it, we have to let them be here," the former U.S. president said.
Another attendee, NFT creator and influencer @frankdegods, posted a video of the Q&A session at the resort event wherein Trump was asked if his supporters can donate to his campaign using cryptocurrencies. "If you can't, I'll make sure you can," he said.
BREAKING: DONALD TRUMP ASKED “CAN WE DONATE USING CRYPTO?”
— Frank (33.3%) (@frankdegods) May 9, 2024
“IF YOU CANT, I’LL MAKE SURE YOU CAN” pic.twitter.com/Nm2YjqxwSI
In another video, Trump blasts incumbent President Biden for supposedly not knowing anything about crypto. He said Democrats are "very much against" digital assets, but he noted that "a lot of people are very much for it."
BREAKING: DONALD TRUMP IS FINE WITH CRYPTO pic.twitter.com/SCJDKdHQUB
— Frank (33.3%) (@frankdegods) May 9, 2024
"I'm fine with it. I want to make sure it's good and solid and everything else, but I'm good with it. And if you like crypto in any form ... you better vote for Trump," he concluded.
Trump's bullish statements about crypto comes several years after he said Bitcoin, the world's largest digital asset by market cap, seemed "like a scam." Since doubting the actual value of the digital coin, he has come around in recent years and even said he has had "fun" with the digital currency.
In March, he said Bitcoin is "an additional form of currency." He went on to share that when he launched a limited edition sneaker, many people who ordered the product paid using "this new currency." While he reiterated that he still prefers the U.S. dollar, he revealed that his company has, at times, allowed people to pay using Bitcoins.
Trump has also endorsed a senatorial candidate known for being a vocal fan of digital assets. The ex-president endorsed Ohio senate candidate Bernie Moreno, who will challenge Democratic Sen. Sherrod Brown in the general elections. Interestingly, Brown is considered as a major critic of the crypto industry.
Financial disclosures have revealed that even with his past critical comments regarding crypto, he has invested in digital assets, particularly Ether (ETH), the native cryptocurrency of the Ethereum blockchain.
