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Does Donald Trump Like Cryptocurrency?

By XTRM™ | Cryptopia | 21 Apr 2023

Does Donald Trump Like Cryptocurrency? Good question eh?

Donald Trump, the former President of the United States, has had a complex relationship with cryptocurrency. While he has not explicitly stated his stance on the digital assets, he has made several remarks that suggest that he likes cryptocurrency.

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During his presidency, Donald 'NFT' Trump tweeted about Bitcoin, calling it a "scam" and saying that it was used to facilitate illegal activities. However, he also acknowledged that it was a competitor to the US dollar and that the US should regulate and monitor it. His tweets reflect his skepticism about Bitcoin's legitimacy as a currency, but he has not ruled out the possibility of using it as a speculative investment.

Also moreover, while he was in office, his administration was relatively friendly towards the cryptocurrency industry. In March 2020, the US Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which included provisions for the regulation and taxation of cryptocurrency. The Trump administration also created a task force to investigate cryptocurrency-related crimes and proposed a bill to make cryptocurrencies more transparent.

Let's see now... additionally, several members of the Trump administration have supported the development of blockchain technology, which underpins cryptocurrencies. For instance, Mick Mulvaney, former White House Chief of Staff, has been a vocal advocate for Bitcoin, saying that it is a valid store of value and can be used for transactions. He has also called for a regulatory framework that does not stifle innovation in the cryptocurrency industry.

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Furthermore, during Trump's presidency, cryptocurrencies were discussed as a potential tool to evade US sanctions. Venezuela's own cryptocurrency called Petro was designed specifically to bypass US economic sanctions. While the US government denounced the cryptocurrency, some experts suggest that Donald Trump may have a more favorable view of it, given his position on sanctions.

I should suggest, while Donald Trump has expressed skepticism about Bitcoin as a currency, he has shown a level of interest in the cryptocurrency industry and recognized its potential as an investment. Additionally, several members of his administration have been supportive of blockchain technology and cryptocurrencies.

While it is still rather unclear how Donald Trump currently views cryptocurrency, his actions while in office suggest that he may have had some affinity for it. Roll on the 2024 US Presidential Elections... I cannot wait... 

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