When Donald Trump was sworn in as the 47th president of the United States, no one could ignore an important fact: the former president who had openly criticized Bitcoin had now become one of the most active promoters of the crypto industry.
Before officially taking office, he even took the lead by launching his meme coin—the TRUMP token—on the Solana network.
At one point, the market cap of the TRUMP token reached $14 billion, and even after a significant correction later, it still maintains around $2.9 billion. Regardless of price fluctuations, Trump's actions have clearly signaled that the new U.S. government has included cryptocurrency in its national strategic vision.
From 'scam' to 'new era': Trump's complete shift in attitude.
Going back to 2019, then-President Trump harshly criticized crypto assets: 'Bitcoin and other cryptocurrencies are not money; their value is extremely unstable and baseless.'
He emphasized that there is only one currency in the U.S., which is the dollar, and warned that digital currencies could fuel illegal transactions.
Even during the Bitcoin bull market in 2021, Trump insisted on Fox Business Channel: 'Bitcoin looks like a scam.'
However, a turning point quietly occurred.
The starting point is NFTs. At the end of 2021, Melania Trump launched a Solana-based NFT collection, and although Solana Labs quickly distanced itself from it, this marked the first intersection of the Trump family with the crypto world.
Subsequently, Trump himself launched an NFT trading card series on the Polygon network, initially mocked by the market but quickly sold out, generating millions of dollars in revenue. According to blockchain data company Arkham Intelligence, wallets associated with Trump not only hold a large number of NFT assets but also received donations of some large meme coins, further deepening his 'crypto experience.'
Want to quickly grasp the asset dynamics of major political figures on-chain? You can use Mlion.ai's on-chain wallet tracking feature to monitor the capital flows of crypto whales in real-time and capture potential market opportunities.
Winning the election, cryptocurrency-friendly policies were quickly implemented.
In the 2024 election, Trump completely changed his strategy. He not only embraced cryptocurrency but also actively sought funding support from Silicon Valley tech leaders and crypto industry magnates during his campaign.
Ultimately, he was successfully elected and returned to the White House with a clear agenda supporting digital assets.
After winning, Trump quickly took action:
Announced the establishment of a strategic Bitcoin reserve for the U.S.;
Launched the TRUMP token on Solana;
Used Bitcoin to pay for hamburgers at the New York crypto bar PubKey, becoming the first U.S. president to use Bitcoin for purchases;
Approved the first cryptocurrency-friendly bill to abolish DeFi broker regulations, weakening the IRS's regulatory pressure on the crypto space.
With this series of moves, the U.S. crypto industry environment has visibly relaxed.
If you want to keep up with changes in cryptocurrency regulations and predict their impact on the market, Mlion.ai's policy change tracking and risk warning system will be an indispensable tool.
The cryptocurrency landscape rapidly expanded: from World Liberty Financial to American Bitcoin.
The Trump family did not stop at policy support but also personally engaged in managing crypto projects.
Before the inauguration in January, Donald Trump Jr. led the launch of the decentralized finance platform—World Liberty Financial (WLF), offering Ethereum-based crypto lending services and the stablecoin USD1.
Although the project's initial sales were tepid, its token sales accelerated rapidly following Trump's inauguration and officially sold out on January 20. Subsequently, WLF released a stablecoin that circulates on Ethereum and Binance Chain, further enhancing its ecological layout.
Additionally, the Trump family collaborated with Bitcoin mining giant Hut8 to prepare the launch of American Bitcoin, aiming to create 'the largest and most efficient Bitcoin miner in the world.'
If you want to track the on-chain performance of emerging crypto projects, analyze capital flows and market acceptance, Mlion.ai's new project monitoring and on-chain heat analysis features can provide first-hand data support to help you identify potential opportunities in a timely manner.
Controversies and struggles surrounding Trump
Inevitably, Trump's 'crypto pivot' also sparked enormous controversy.
Critics argue that he has a clear conflict of interest—crafting cryptocurrency-friendly policies while his family runs a crypto business.
Supporters argue that he is the first U.S. president who truly understands and is willing to embrace crypto innovation.
Meanwhile, the Republican Party further absorbed a large number of crypto supporters. Bitcoin supporter Robert F. Kennedy Jr. suspended his campaign and joined the Trump administration as Secretary of Health and Human Services; Howard Lutnick from Cantor Fitzgerald took charge of the Department of Commerce; and Elon Musk led the government efficiency department (DOGE), actively promoting spending cuts.
To accurately track the deep connections between political changes and the crypto industry, you can rely on Mlion.ai's political and economic trend analysis and forecasting engine, helping you gain insights into future policies that may impact the crypto space.
Summary
Trump's turnaround is an iconic moment in the history of cryptocurrency. From publicly criticizing it in 2019 to becoming the biggest political promoter of the crypto industry by 2025, he has not only transformed himself but is also profoundly changing the fate of the crypto industry in the U.S. and globally.
Whether you are a believer or a skeptic, you cannot ignore that in the new era of Trump's presidency, cryptocurrency is ushering in an unprecedented era of policy support, where opportunities and risks coexist.
In this transformative period, information is power. Choose Mlion.ai as your AI intelligent investment research assistant to stay one step ahead in the rapidly changing crypto world and seize the future.
Disclaimer
The above content is for informational sharing only and does not constitute any investment advice! The cryptocurrency asset market is highly volatile; investments should be made cautiously, and decisions must be based on one's own risk tolerance.
If you want, I can also help you organize a concise version specifically suitable for social media or short video viral dissemination. Do you want to continue? 🔥
