As the crypto community expressed its frustration over the Senate’s delays in passing the CLARITY Act – a United States bill that would create clear rules for the cryptocurrency industry – President Donald Trump has revealed why he supports Bitcoin (BTC) and the wider web3 space.
President Trump has said that cryptocurrency is a big deal as more people are using Bitcoin as a form of payment, according to an interview with Punchbowl posted on August 7.
“Crypto is a big deal. I mean, I see it more and more where people are paying with Bitcoin, and you know they don’t even know about cash anymore,” Trump stated.
He argued that the mainstream use of Bitcoin as a form of payment has taken the pressure from the U.S. dollar.
“That takes a lot of pressure off our dollar. It’s a good thing for our country,” he added.
Trump noted that the United States has been leading China in the mainstream adoption of Bitcoin and Artificial Intelligence (AI). As such, he voiced his disappointment with the Senate’s delay in passing the CLARITY Act, despite months of bipartisan efforts.
