As president, Trump declared bitcoin “not money” and criticized it as “highly volatile and based on thin air.” He cautioned that crypto assets helped facilitate illegal underground markets. Trump’s campaign would not say what sparked the former president’s 180-degree turn on bitcoin. Billionaire crypto tycoons Tyler and Cameron Winklevoss each pledged to donate $1 million worth of bitcoin to Trump’s campaign. The cryptocurrency industry has experienced a resurgence since the downfall of FTX. Trump supporters were not hard to find inside the Bitcoin Conference.

Source: CNN July 28, 2024 22:25 UTC