Trump discusses political views, the Federal Reserve, and NFTs in an interview with Bloomberg Businessweek following the shocking shooting incident. Regarding the appointment of the Federal Reserve Chairman, Trump states that if Powell is doing the right thing, he would extend his term until 2028. He believes that the Fed should maintain the current interest rates until the US economy recovers and inflation is under control. Trump predicts that the Fed may attempt to lower interest rates before the upcoming US election in November, but it would be difficult unless the government reduces other costs related to interest rates. He also mentions his plan to reduce energy costs.
Trump also mentions his success in issuing NFTs, with each release selling out within a day. He has sold a total of 45,000 NFTs, with 80% of the payments made using cryptocurrencies. He plans to issue a fourth round of NFTs because people want him to. Trump admits that through NFTs, he has come to appreciate the novelty of cryptocurrencies and their potential. In 2019, he was a staunch opponent of Bitcoin, calling it unstable and not real money. However, his attitude shifted during the 2024 US election year, but he still hopes the US dollar becomes the global reserve currency.
Following the shooting incident, trading volume for Trump Digital Trading Cards NFTs surged by 916%. The floor price of NFTs also increased from around $210 to a high of $489, a cumulative increase of over 130%.
When asked about his embrace of cryptocurrencies despite his previous criticism of Bitcoin, Trump reveals concerns about China taking the lead if the US doesn’t take action. He believes that China is very enthusiastic about cryptocurrencies. Trump has also met many industry professionals since entering the crypto world and believes that the US has a strong foundation in this field. He mentions Jamie Dimon, CEO of JPMorgan Chase, who used to have a negative attitude towards cryptocurrencies but has since changed his stance.
According to CoinDesk, a Super PAC composed of venture capitalists, business tycoons, and tech executives has donated $8.75 million to Trump’s political campaign. Donors include former managing director of Sequoia Capital, Douglas Leone, co-founder of Palantir, Joe Lonsdale, and CEO of Jack Link’s, Troy Link. Some of these donations were made using cryptocurrencies. Jesse Powell, the founder of Kraken, donated $1 million, mostly in Ether (ETH), while the Winklevoss twins, founders of Gemini, successfully donated $250,000. Trump’s support for cryptocurrencies is further demonstrated by his selection of cryptocurrency-friendly senator J.D. Vance as his running mate for vice president.
