Does Donald Trump Support Crypto?

“Well, it's taken [on] its own life,” Trump said in an interview on CNBC this morning when asked about his thoughts on crypto. “You know, I do little things sometimes for fun and, you know, make money with it and have fun with it, too.”

Trump went on to say he sometimes lets people pay him in bitcoin, adding that it’s “an additional form of currency.” 

Former President Donald Trump has recently showcased a notable shift in his stance toward Bitcoin, diverging from his historically critical view of cryptocurrencies.

“Frankly, it’s taken a life of its own, you probably have to do some regulation, as you know,” Trump suggested, acknowledging the currency’s burgeoning momentum and its increasing incorporation into payment systems.

“Many people are embracing it. And more and more, I’m seeing people wanting to pay [with] Bitcoin,” he added, highlighting the digital currency’s growing acceptance.

The former president and leading Republican candidate for next year’s election held $2.8 million in a cryptocurrency wallet as of early August, according to official documents governmental ethics watchdog Citizens for Responsibility and Ethics in Washington received Monday. He also earned $4.87 million in licensing fees from his non-fungible token collection, per the filing. Trump, despite being a crypto skeptic when he was president, last year debuted a non-fungible token (NFT) project called Trump Digital Collectible Cards sporting images of himself. He released a second series of collectibles this April. Both collections sold out.

Although Trump said he was "not a fan" of cryptocurrency in July 2019, he appeared enthusiastic to promote his new collection. "GET YOUR CARDS NOW! Only $99 each! Would make a great Christmas gift. Don’t Wait. They will be gone, I believe, very quickly!" he wrote in a post on his platform.