“Bitcoin Is An Additional Form Of Currency” Asserts Ex-US President Donald Trump

Former President Donald Trump has expressed his thoughts on Bitcoin and cryptocurrencies referring to Bitcoin as an “additional form of currency” amid its growing popularity.

Trump, who is seeking the presidency in this year’s election, made these comments during a Monday CNBC Squawk Box interview with Joe Kernen.

When asked about his current stance on crypto, Trump said, “I do little things sometimes for fun and make money with it. But I have fun with it, too. I have fun with it, too.”

Asked if he had bought Bitcoin, the billionaire responded, “No, No, No. sometimes we’ll let people pay through bitcoin or we’ll let people get involved in a new — you know, if you think of it, it’s an additional form of currency.”

Trump further highlighted a particular business endeavour involving sneakers, where payments were made in crypto, describing it as a branding exercise that garnered significant attention.

“It has taken on a life. I did a thing that people smile at, but it was wild. We did 1,000 sneakers. The last one, an ultimate limited-edition sneaker run, sold for approximately $450,000. It was a branding thing. I had a good time with it.” He noted.

Recently, Trump acknowledged the growing popularity of Bitcoin and other cryptocurrencies, stating that it has “taken on a life of its own.” He also mentioned that while he still prefers the dollar, he recognizes the increasing acceptance of Bitcoin and the possibility of needing some regulation. The billionaire also emphasized that if elected president, he would oppose the rollout of Central Bank Digital Currencies (CBDCs) in the United States.

It shall be recalled that in 2019, Trump tweeted that he was “not a fan” of cryptocurrencies, stating that they were “not money.” Nevertheless, despite his previous scepticism, Trump has been dabbling in the crypto space, launching several of his line of non-fungible tokens (NFTs), including one collection in the form of Bitcoin “inscriptions” in January.

That said, Trump’s latest comments on Bitcoin come as the cryptocurrency reaches new all-time highs. On Monday, Bitcoin surged, breaking the $72,000 price mark, boosting other cryptocurrencies such as Ethereum, which climbed past the $4,000 mark. This enthusiasm has been primarily driven by optimism, especially following the approval of several Bitcoin ETFs, enabling traditional investors with significant funds to participate in the Bitcoin market.

At the time of writing, Bitcoin was trading at $72,538, representing a 4% increase over the past 24 hours.