In a series of bombing new comments on June 27, President Donald Trump has embraced not only the cryptocurrency world. He claimed to be his founding father. Trump painted a picture of a failed industry he rescued single-handedly, seeing himself as a visionary, who transformed cryptocurrency into a “very powerful industry” necessary for American rule.
It’s a bold claim, especially for a man who in 2021 called Bitcoin a “scam” based on thin air.
The hub from the highest skeptics in cryptocurrency to its self-proclaimed architect is Stark. Trump spoke at a White House press conference, positioning his involvement as a long-standing secret, predating his 2024 game.
“I was involved a few years ago and before the second semester,” he said. “I was involved before I decided to run…it got great. I mean, it was the job it produced and I noticed you guys pay more and more in bitcoin.”
This new narrative conveniently ignores the actual history of cryptocurrencies, which began with the creation of Bitcoin in 2009 and was shaped by innovators such as Ethereum co-founder Vitalik Buterin. Instead, Trump sees himself as an impossible savior, and when no one works, he sees his potential.
Trump claimed: “It was a poor performance industry, before making the most jaw-dropping assertion, “I am the president and what I do is build a very important industry.” ”
For those following the space, turning around is causing a whip. In 2021, Trump’s main objection was that cryptocurrency is “another currency that competes with the dollar”, telling Fox’s business that he wants the dollar to become the “world currency.”
Today, he thinks the opposite.
“I mean, people say it’s under a lot of pressure, and it’s a good thing for our country,” Trump said.
Now he identifies cryptocurrency as a threat, but a strategic asset in a geopolitical chess game against China. “If we don’t have one, China will.” “China is happy, we have dominated the industry.”
While Trump’s reshaping seems sudden, it’s been a period of crypto lobbying, as well as a series of pro-Claytop actions by his administration. Since returning to the White House, Trump has fully embraced the industry, and many believe it is the future of finance.
This new wave of financial services is built primarily on blockchain technology, a decentralized digital ledger that can record transactions safely without the need for middlemen like banks. This “decentralized finance” (or Defi) is at the heart of the crypto movement.
The Trump administration has actively worked to legalize it. Through the Genius Act, it recently secured a law of stability (a cryptocurrency (a cryptocurrency) to reduce stable assets to reduce volatility) and even announced the creation of U.S. crypto reserves.
This regulatory embrace also includes his family’s growing crypto empire, fueling market gatherings. Bitcoin is currently trading with over $105,000, with the total value of the cryptocurrency market close to $3.4 trillion, a huge recovery in the “crypto winter” in recent years, which has led to a spectacular collapse of exchanges like FTX.
For an industry that has experienced intense debate and volatility, Trump’s public paste is a powerful, even revisionist mark of approval. Those who once regarded cryptocurrency as the enemy of the dollar now see it as a patriotic legacy he personally established.
