Donald Trump and Bitcoin
Former President Donald Trump is highlighting the importance of U.S. leadership in Bitcoin and cryptocurrencies, positioning himself as a staunch Bitcoin advocate as he runs for the 2024 presidential election, becoming the first U.S. president to accept Bitcoin Lightning payments.
These types of payments use the Bitcoin Lightning Network, a protocol for faster and cheaper transactions on the Bitcoin blockchain. He also opposes Central Bank Digital Currencies (CBDCs), i.e. digital currencies issued by central banks. On the campaign trail, Trump promises to keep regulators away from Bitcoin if he is elected.
Support for Bitcoin and America's Future
In a speech in Wisconsin, Trump declared his intention to "end Joe Biden's war on crypto." This is to secure America's economic future and ensure that the future of Bitcoin and crypto innovation lies in the US and not other countries. These statements mark a significant shift in Trump's position, as he now explicitly supports American leadership in Bitcoin.
Promoting Bitcoin and crypto innovations
Trump makes it clear that he recognizes the political benefits of supporting Bitcoin. As the cryptocurrency becomes too popular to be banned, he believes it is crucial to appeal to Bitcoin-friendly voters. He believes that lagging behind in Bitcoin and crypto innovation could result in the U.S. missing out on technological and financial advances. Trump emphasizes the need for America to become a center for Bitcoin and crypto developments in order to remain competitive on the global stage.
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