Former U.S. President Donald Trump continues his preparations for the 2024 Elections, aiming to reclaim the presidency. It has been revealed that in his upcoming campaign speech in Portsmouth, New Hampshire, Trump will express his determination to prevent the Federal Reserve from creating a Central Bank Digital Currency (CBDC) if re-elected.
Donald Trump: CBDC Is a Political Weaponization
According to The Post Millennial, Trump’s campaign speech highlights potential risks associated with unbanking and concerns about the political weaponization that could accompany the introduction of a CBDC. The former U.S. President clearly states his opposition to such financial developments to address perceived dangers and maintain financial stability:
As your President, I will never allow the creation of a Central Bank Digital Currency. Such a currency would give the federal government absolute control over your money. This would be a dangerous threat to freedom, and I will prevent it from coming to the U.S. I will also introduce strong protections to prevent banks and regulators from trying to financially penalize you for your political beliefs. As long as I am your president, this will never happen.
The leak of Trump’s prepared campaign speech comes a day after Bitcoin 
$90,829 (BTC) advocate and presidential candidate Vivek Ramaswamy suspended his campaign to support Trump.
Amid the decline of physical cash in favor of electronic and online payment systems, central banks worldwide, including the Bank of Canada, are researching the potential implementation of digital currencies. Canada is actively participating in these ongoing studies surrounding the evolution of payment methods. Turkey is also actively working on a digital Turkish lira as a CBDC.
A Crypto-Friendly Approach
Trump, during his presidency, was known for not endorsing Bitcoin and other cryptocurrencies. In a July 2019 tweet from his personal account, he stated, “I am not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile. Unregulated crypto assets can facilitate illegal transactions, including drug trade and other illegal activities.”
On the other hand, House Majority Leader Tom Emmer (R-MN) believes that Trump’s return to the White House would result in a more crypto-friendly approach. The congressman expressed his view by saying, “If the Trump administration comes to power for a second time, the president will display a much more friendly attitude towards the crypto industry.”
Since leaving office, Trump has introduced three NFT collections. Some analysts speculate that if Trump wins this year’s presidential election, Bitcoin’s price could reach unprecedented highs.
