Donald Trump makes big promise about cryptocurrency

Former US president Donald Trump is also seeking support of the cryptocurrency traders for his November 2024 White House bid, stating categorically what he thinks about the “burgeoning industry”.

On his social media post Truth Social, the Republican presumptive nominee wrote ahead of his Libertarian National Convention appearance: "I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry. Our country must be the leader in the field."

"There is no second place," the 77-year-old said who wrote his post in all capital letters.

Criticising his rival, President Joe Biden, Donald Trump claimed that the incumbent leader of the US wants the crypto industry to "die a slow and painful death, that will never happen with me!”

The businessman changed his stance on cryptocurrency as he had been critical earlier for such decentralised modes of digital exchanges, compared to the US dollars.

During an interview in 2021 with Fox Business, Trump said: "The currency of this world should be the dollar. And I don't think we should have all of the Bitcoins of the world out there. I think they should regulate them very, very high."

According to CNBC, Trump's campaign said that it is accepting donations made in cryptocurrency.

The press release said last week that people can donate using "any cryptocurrency accepted through the Coinbase Commerce product".