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Trump credits crypto NFT sales for his change in stance on Bitcoin

GrafaGrafa2024/09/17 02:00
By:Isaac Francis

During a recent event, former President Donald Trump credited the excitement around his own NFT projects as the reason behind his shift in favor of cryptocurrency. 

Speaking at the World Liberty Financial launch hosted by Rug Radio, Trump said that seeing most of his NFT trading cards on Ethereum's (CRYPTO:ETH) Polygon network being purchased with cryptocurrency changed his perspective on Bitcoin  (CRYPTO:BTC) and crypto.

Trump explained that he was initially uninterested in digital assets, even calling Bitcoin a "scam" in 2021. 

However, the success of his NFT collections, which were largely bought using cryptocurrency, led to a change of heart. 

"So many people paid this way," he said, adding that if his supporters had been paying in dollars, he would have thought it was normal. 

"I was blown away," Trump admitted. 

Since launching his first NFT collection in December 2022, Trump has released three more, the latest in August.

Trump was joined by his sons, including Barron Trump, an avid crypto user. 

Trump noted, "Barron knows so much about this, and he's a young guy, but he knows," highlighting his son's familiarity with digital wallets and crypto trading.

Trump's pro-crypto sentiment marks a significant turnaround from his earlier stance. 

"I did ask what percentage was taken between Bitcoin and all of the other things, but with crypto, and it was a massive majority," he said, reflecting his surprise at the popularity of crypto among his supporters.

Describing the crypto sector as a "fledgling but massive business," Trump expressed his optimism for its future. 

"When I do things, I notice a lot of crypto comes in; people pay with crypto," he said, emphasising his belief in its growing potential. 

He added that younger generations seem to understand digital assets better than their older counterparts and that he has come to "respect" this trend.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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