Benzinga – The shifting perspectives of former President Donald Trump regarding cryptocurrency have piqued the interest of market observers, as highlighted by a recent tweet from economist and crypto trader Alex Krüger.
Key Points: Krüger recently pointed out the significant change in Trump’s views on cryptocurrencies over time. Back in 2019, Trump expressed doubts about Bitcoin (CRYPTO: BTC) and other digital assets, dismissing them as “not real money” and being “based on nothing.” Fast forward to 2024, and Krüger’s tweet indicates that Trump is now endorsing the purchase of his “non-fungible shitcoins” using Bitcoin.
Trump 2019: I don’t support Bitcoin and other Cryptocurrencies, which are not real money and have a volatile value based on nothing
Trump 2024: please buy my non-fungible shitcoins with Bitcoin
— Alex Krüger (@krugermacro) March 11, 2024
This tweet, shared on a Monday, highlights the former President’s transformation from a vocal critic to an active participant in the crypto sphere.
Krüger’s observation of Trump’s evolving stance on Bitcoin coincides with the cryptocurrency reaching new all-time highs on Monday, surging to $72,850.71. Since the beginning of the year, Bitcoin has experienced a 69.25% increase.
Despite Benzinga’s outreach, Donald Trump’s office did not respond to requests for comments at the time of publication.
Significance: Trump’s acknowledgment of Bitcoin transactions and recognition of its practicality signify a notable shift from his previous position. In a recent interview, he mentioned accepting Bitcoin as payment for a limited edition sneaker project, with the final pair selling for $450,000. While he still favors the dollar, Trump appears to be acknowledging the growing significance of cryptocurrencies.
Additionally, Trump’s exclusive collection of 1,000 sneakers, available for purchase with Bitcoin, quickly sold out at Sneaker Con. This marks a departure from his 2021 stance that Bitcoin was a “potential disaster.” His recent statements indicate a more neutral position, suggesting he can “accept it one way or another.”
It is worth mentioning that Trump has reportedly gained a return of over 15,000% from an altcoin named after his movement — MAGA (TRUMP). Reports indicate that the meme coin team transferred a \(7,100 stake in TRUMP between August and October 2023, which has now surged to a value exceeding \)1.07 million.
Trump’s involvement with the second-largest cryptocurrency, Ethereum (CRYPTO: ETH), has also surfaced, with reports of his recent trading activities involving the digital asset.
Photo via Shutterstock
Price Update: Bitcoin was trading 4.2% higher at $71,538.71 at the time of reporting, based on data from Benzinga Pro.
In Conclusion: Trump’s evolving stance on cryptocurrency, particularly Bitcoin, reflects a notable shift towards acceptance and participation in the digital asset space, contrasting with his previous skepticism and criticism.