Donald Trump Once Called Bitcoin A Scam, Now He’s Pledging To End Hostility Toward Crypto

US Presidential candidate Donald Trump expressed his support for cryptocurrencies during a Wednesday meeting with a group of NFT holders at his Mar-a-Lago resort in Palm Beach, Florida.

The Republican front-runner lamented that crypto-focused businesses are exiting the United States because of the current administration’s hostility.

“If crypto is moving out of the US because of hostility toward crypto… well, we’ll stop it. We don’t want that,” Trump proclaimed. “If we’re going to embrace it, we have to let them be here.”

Trump further indicated that he plans to accept campaign donations in Bitcoin and other cryptocurrencies.

“If you can’t, I’ll make sure you can,” he confirmed. “Can we donate to the Trump campaign using crypto? I believe the answer is yes.”

Is Trump Turning Pro-Crypto?

Recent Trump comments sound like he has eased his stance. Back in 2019, when he was president, Trump said he was “not a fan” of cryptocurrencies. The former U.S. president also previously labeled Bitcoin as a “scam.” Trump has called central bank digital currencies dangerous, vowing not to allow them if elected.

Trump called out the current government during the Wednesday event, suggesting that President Joe Biden lacks an understanding of crypto, while he has positioned himself as the pro-crypto candidate. He also took shots at SEC Chair Gary Gensler, branding him and the Democrats as anti-crypto.

“Gensler is very much against it. The Democrats are very much against it [but] I’m fine with it, I want to make sure it’s good and solid and everything else, but I’m good with it.”

Predictably, Trump isn’t a fan of the Biden-linked Jeo Boden (BODEN) meme coin, which currently has a market capitalization of more than $250 million.

“That’s a lotta money for a coin, I don’t like that investment,” he said.

Nonetheless, BODEN jumped by over 10% shortly after his remarks started circulating on X.

Trump’s shift in his stance on crypto comes as strategists at British banking giant Standard Chartered suggested on Tuesday that his winning the U.S. Presidential election against Biden in November would be good for Bitcoin and cryptocurrencies in general.