Trump declares Bitcoin "a great thing for our country," saying it "takes a lot of pressure off the dollar."
Trump expressed strong support for Bitcoin, calling it an "industry" that creates jobs and cushions the economy. He highlighted that during the stock pullback, crypto "fell much less" and cited growing merchant adoption as key evidence.
These comments mark a major shift for a president once wary of crypto-signaling U.S. intent to lead in a sector now seen as geostrategic. However, critics like Peter Schiff warn that diverting capital into Bitcoin could weaken dollar reserve status
The U.S. Dollar Index dropped to a three-year low at ~97.4 this week, and market sentiment is tilting toward assets like gold and Bitcoin amid dollar weakness.
Expect increased volatility in FX and crypto markets as investors digest this leadership pivot. Watch for policy moves: could Trump back federal frameworks, stablecoin measures, or even a "crypto reserve"? Front-row seats on impact.