President Donald Trump’s strong support for cryptocurrency signals a major shift as he declares the U.S. dominance in digital assets, criticizing opponents and praising the unstoppable popularity of cryptocurrency.
Trump: I Want Cryptocurrency Because Millions of People Want It
U.S. President Donald Trump has strongly voiced his support for cryptocurrency in a May 4 interview on NBC's Meet the Press, discussing the topic alongside broader issues including the economy, immigration, and foreign policy. Speaking in a segment broadcast nationwide, Trump positioned himself as a supporter of digital assets and responded to skepticism about whether his support is related to personal interests.
“I support cryptocurrency,” Trump declared. Responding to questions about whether he could benefit from his position, he denied any financial interests: “I don’t benefit from anything. All I do is, I started this a long time ago before the election. I want cryptocurrency. I think cryptocurrency is very important because if we don’t do it, China will.”
He emphasized the resilience of the digital asset market, stating: “It’s new, very popular, very hot. If you look at the market, when the market goes down, it’s still much stronger than other aspects of the market.” The president added:
But I want cryptocurrency because a lot of people, millions of people, want it.
The president also criticized how his political opponent handled cryptocurrency, stating: "I don’t know if you know that Biden has pursued it aggressively, and then before the election, he completely changed his tone - his SEC head, everybody - changed their tone. Do you know why? Because there are hundreds of millions of people involved in cryptocurrency and they want to win their votes. But it’s not effective." When pressed directly about whether he is profiting from his cryptocurrency, Trump replied: "I haven’t even looked."
During President Joe Biden's term, the SEC, under the direction of Chairman Gary Gensler, has taken a strict approach to cryptocurrency regulation, initiating many enforcement actions against cryptocurrency companies. In contrast, the Trump administration adopted a pro-cryptocurrency agenda. Trump appointed Paul Atkins, a well-known cryptocurrency advocate, as SEC Chairman, signaling a shift toward more favorable regulatory policies for digital assets. Additionally, Trump established the Strategic Bitcoin Reserve Fund and a broader Digital Asset Reserve, aimed at making the U.S. a global leader in cryptocurrency. He also appointed David Sacks as the AI & Cryptocurrency Czar of the White House and recently hosted the first cryptocurrency summit at the White House.
