Photo: Alamy
President Trump weighed in this week with his thoughts about the efficacy and long-term viability of the digital marketplace, which is rapidly expanding in a technology-driven world.
While answering a question about cryptocurrency from the crowd at an event at Mar-a-Lago in Palm Beach, Florida, President Trump noted that there was a lot of “hostility” toward crypto in the domestic United States.
“We’ll stop it because I don’t want that,” he said. “…If we’re going to embrace it, we have to let them be here.”
In other comments, he expanded on the subject, noting that the Democrats were “against it” and joking that Biden “doesn’t even know what it is.”
The president’s comments were captured on video and circulated on social media between Wednesday night and Thursday morning.
Trump continued, “And I say this, a lot of people are very much for it, probably a lot of the people in this group. And I’m fine with it – I want to make sure it’s good and solid and everything else, but I’m good with it. And if you like crypto in any form…if you’re in favor of crypto, you’d better vote for Trump.”
Trump has spoken about digital currencies before, maintaining solid support for protecting the U.S. dollar while simultaneously acknowledging the power that cryptocurrencies have.
Earlier this year, he explained on CNBC, “If you think of it, it’s an additional form of currency, and I used to say, ‘I want one currency, I want the dollar, I don’t want people leaving the dollar.’ I feel that way, but I will tell you, it has taken on a life.”
He also explained earlier this year that he had allowed people to pay for his collectible “Never Surrender” gold sneakers with cryptocurrencies. However, while Trump supports crypto operations within the U.S., in the past he also caveated his support for the digital currency world by stating that he was a “traditionalist” who wants to stay with the U.S. dollar.