Donald Trump Backs Bitcoin, Touts BTC’s Traditional Currency Potential

Read Time:2 Minute, 28 Second

In what comes as a remarkable event for Bitcoin following its recent topping of the $72K mark (New ATH) today, March 11, Donald Trump, a renowned American politician, took a positive stance on the world’s first-ever digital currency, fueling immense optimism among crypto market enthusiasts across the globe. In an interview with CNBC, Trump proclaimed allowing some payments via Bitcoin nationwide, keeping in mind the burgeoning adoption of digital currencies throughout the U.S. economy.

This remark by the ex-president of the United States underscored Bitcoin’s burgeoning popularity ever since its inception into the crypto realm. Coupled with a few other remarkable events, such as the successful commencement of BTC ETFs and the recurring & upcoming BTC halving, Bitcoin continues to make waves throughout the vast sea of crypto.

Trump States Bitcoin “A Traditional Currency”

According to Trump’s statements in his interview with CNBC, the U.S. economy has immensely embraced digital currencies. Turning away from them after embracing them so firmly is sure to cause the economy to take a hit, per Trump’s statement.

Although Trump clarified that he had not bought any amounts of BTC to date, the 45th former president of the United States is sure to allow payments in BTC nationwide, aligning with the token’s popularity. Notably, Trump stated, “If you think of it, Bitcoins is a type of traditional currency,” nabbing global attention. This birthed a tidal wave of bullishness on BTC, aligning with the upcoming halving and its recent scaling of a new ATH.

Intriguingly, he also recalled a remarkable sneaker sale event wherein people paid a colossal sum of money through cryptocurrencies for their purchases, further underscoring the burgeoning adoption of digital assets throughout the United States.

BTC, simultaneously, continued mirroring optimism aligning with Trump’s statements, surging past the $72K mark as of press time.

Also Read: Bitcoin Records $2.6B Weekly Inflow Amid Growing Wall Street Interests

Bitcoin Price Jumps

As of writing, the Bitcoin price soared 3.54% over the past 24 hours and is currently trading at $72,239. With an 80.28% surge in the token’s trading volume, accompanied by a 3.57% upswing in the token’s market cap, BTC continued garnering bullish sentiments across the crypto realm.

Coinglass‘ data hinted at a 5.80% surge in the token’s open interest, whereas volume rocketed 104.93%, adding on to the bullishness on BTC as it hinted at an uptrend. The colossal rise in the BTC OI-weighted funding rate jotted today, reaching 0.0807%, further propelled market optimism as investors showcased readiness to invest more in long positions.

With the upcoming halving further weighing in, crypto market enthusiasts expect further pumps in BTC, mirroring optimism aligning with Trump’s statements.

Also Read: Court Denies Sam Altman’s Worldcoin Ban Lift Plea, WLD Price To Drop?

The post Donald Trump Backs Bitcoin, Touts BTC’s Traditional Currency Potential appeared first on CoinGape.

Leave a Reply

Your email address will not be published. Required fields are marked *