Trump: Bitcoin Has Taken on 'a Life of its Own,' Will Probably Need Some Regulation

CoinDeskPolicyPublished on 2024-02-22Last updated on 2024-02-23

Abstract

The former U.S. president has previously called central bank digital currencies dangerous and vowed not to allow them if elected.

Former U.S. president and Republican front-runner Donald Trump said bitcoin (BTC) has "taken a life of its own" and will probably need some regulation.

Trump was speaking to Fox News during a town hall event in South Carolina on Tuesday ahead of the state's Republican primary. Nikki Haley, the former South Carolina governor, remains the only other contender and has vowed to remain in the race even if she loses the Saturday primary.

"A lot of people are doing it (Bitcoin)," Trump responded to Fox News anchor Laura Inghram's question about whether the next logical step for the U.S. is to embrace bitcoin. "I always liked one currency ... I like the dollar."

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Regarding bitcoin, he said: "It's taken a life of its own. You probably have to do some regulation. But many people are embracing it. More and more I'm seeing people wanting to pay bitcoin. And you are seeing something that's interesting. I can live with it one way or the other."

Trump has previously called central bank digital currencies (CBDCs) dangerous and vowed not to allow them if elected.

Read More: Donald Trump Is the Latest Republican to Use CBDCs as a Dog Whistle

Edited by Sheldon Reback.

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