Donald Trump and Bitcoin: From 'Not a Fan' to Crypto President—With His Own Meme Coin
Donald Trump has undergone a significant transformation regarding his stance on cryptocurrency. Originally opposing Bitcoin and calling it a 'scam' in 2019, Trump is now a pro-crypto president following a successful election campaign that leveraged millions in donations from tech leaders. He launched the TRUMP meme coin on the Solana network, which had a peak market cap of $14 billion, showcasing his newfound enthusiasm for digital assets. Trump's pivot to cryptocurrencies included NFTs and a DeFi project, which he credited for changing his opinion about Bitcoin. He has actively promoted crypto by signing legislation that removes restrictive IRS regulations, further solidifying his pro-crypto stance. In a noteworthy move, Trump promised to establish a strategic Bitcoin stockpile for the U.S. and later claimed to be the first ex-president to use Bitcoin for a purchase. As he continues to integrate cryptocurrency into his political platform, Trump's evolving view reflects a growing acceptance of digital currency in mainstream politics.
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