Former President Donald Trump's recent Bitcoin remarks raise questions about his understanding of cryptocurrencies.
Former President Donald Trump, who once disparaged cryptocurrencies as a scam, has dramatically shifted his stance, now embracing the crypto space with unprecedented enthusiasm.His answers highlighted a lack of understanding of crypto and what it is supposed to do.“You have to understand about crypto, crypto is a very interesting thing. Very high level in certain ways, intellectually very high level. But if we don’t do it, China’s gonna do it.
This showcased that Trump’s recent support for crypto may have been nothing more than a campaign tactic, capitalizing on the discontent the crypto community has with the current regime’s attitude towards crypto.Reacting to Trump’s baseless comments, Reddit user Routine_Koala4914 said, “Spoken like a true politician. Say so much and nothing at the same time, while convincing their followers that they are following a genius.”“That’s not how debt works; it’s not how crypto works; and it’s not how economics works.”Additionally, as of July 2024, 25% of crypto discussions on X revolve around the U.S. elections, with 76.6% of investors expecting the Republican Party to support crypto-friendly policies.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Heavy selling by Jump Crypto magnified crypto sell-off, Bitcoin ETFs kickstart recoveryThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Charting Bitcoin’s road beyond $60K: A 20% surge in coming weeks?Bitcoin [BTC] recently managed to break above the $60k barrier, sparking excitement among crypto investors.
Read more »
Trump campaign launches BTC sneakers, hits $25M crypto donationsTrump’s campaign raised $25 million through crypto donations, highlighting Bitcoin's rising impact on politics.
Read more »
Crypto whale scoops up 84,000 BTC in July: Bullish market shift?Crypto whales have significantly increased their Bitcoin holdings in the past month, accumulating over 84,000 BTC.
Read more »
Crypto funds recorded inflows of $1.44 billion last week, fueling crypto market reboundThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Crypto SWOT: Robinhood is considering launching crypto futures in the U.S. and EuropeThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »