President Donald Trump has undergone a significant transformation regarding his stance on cryptocurrency. Once a vocal critic of Bitcoin, calling it “a scam,” he has now embraced crypto as he begins his second term as the 47th President of the United States. During his recent campaign, Trump branded himself as a pro-crypto candidate, managing to garner substantial financial support from the tech industry, including millions in donations from cryptocurrency supporters.
In January 2025, after being inaugurated, Trump released a Solana-based meme coin named the “TRUMP token,” which at one point had a market cap of $14 billion, although it subsequently fell to $1.5 billion. This move was indicative of his growing enthusiasm for the cryptocurrency space, positioning him as a friend to Bitcoin enthusiasts and pledging to support the digital asset ecosystem.
Looking back, Trump has not always held these views. In 2019, he famously declared via Twitter, “I am not a fan of Bitcoin and other cryptocurrencies,” emphasizing their volatility and lack of inherent value. He insisted that the U.S. dollar is the only real currency that matters.
However, his outlook began to shift after his departure from the White House. In 2021, Trump’s wife, Melania, announced plans for an NFT collection on Solana, which he criticized while also launching his own series of NFTs the following year through the Ethereum scaling network, Polygon. To his surprise, these NFT sales generated significant income, leading him to reassess his perspective on crypto.
By 2024, Trump publicly declared that he enjoyed participating in the cryptocurrency market. He even hosted an event at his Mar-a-Lago resort, expressing his support for crypto and critiquing opposition from the Democrats. In a notable shift, he emphasized his intention to build a “strategic Bitcoin stockpile” for the U.S., pledging to position the nation as a central hub for cryptocurrency.
Trump furthered his crypto ambitions by launching the World Liberty Financial project, aiming to offer decentralized finance services. Despite initial struggles with the launch, interest surged right before Trump’s inauguration, ultimately leading to a full sell-out of the token’s initial offering.
Controversy has surrounded Trump’s actions, with his ventures facing scrutiny for potential conflicts of interest. This came alongside his attempt to solidify relationships within the crypto community, gaining support from major figures and influencers in the industry, like the Winklevoss twins and Jesse Powell, who contributed to his campaign.
As the crypto sphere continues to evolve, Trump’s embrace of this technology signifies not only a shift in his personal ideology but also a potential influence on U.S. economic policy, as cryptocurrency becomes an increasingly central narrative in American politics.
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