Trump embraces Bitcoin in bizarre post to Truth Social
What specific benefits did Donald Trump claim Bitcoin mining in the United States would bring in his Truth Social post?
In his Truth Social post, Donald Trump claimed that Bitcoin mining in the United States would help the country be "ENERGY DOMINANT" and serve as a potential "last line of defense against a CBDC (central bank digital currency)." He also argued that embracing Bitcoin mining would counter "Biden's hatred of Bitcoin" and prevent helping foreign powers.
How has the popularity of Bitcoin changed recently, according to the article?
According to the article, the popularity of Bitcoin has been growing significantly over the past several years. It reached an all-time value high in March 2021. However, a 2023 Pew poll found that the vast majority of Americans still reject the currency as a safe and reliable store of value.
How did Donald Trump describe central bank digital currencies (CBDCs) in his recent social media update?
In his recent social media update, former President Donald Trump described central bank digital currencies (CBDCs) as a "very dangerous thing." He expressed his heavy skepticism about their security and even vowed to block their creation if reelected1. Trump claimed that a so-called "digital dollar" could create a situation where money suddenly disappears from people's bank accounts. He also likened the creation of a central bank digital currency to a form of "government tyranny," warning it would give the federal government the ability to "take your money."