In a series of bombastic new comments on June 27, President Donald Trump not only embraced the world of cryptocurrency; He claimed to be its founding father. Painting a picture of a failed industry, which he saved on the one hand, Trump threw himself as the visionary, who transformed a crypt into a “very powerful industry” essential for US rule.
It is a bold claim, especially for a man who before 2021 called bitcoin “fraud”, which was “based on thin air.”
The pivot of Crypto’s highest profile to its self -proclaimed architect is severe. Speaking at a White House press conference, Trump positioned his involvement as a longtime secret, preceding his 2024 run.
“I participated in it a few years ago, and before the second term,” he said. “I participated before I decided to run … it becomes amazing. I mean is the work it produces, and I realize that more and more are paying in bitcoin.”
This new storytelling conveniently overlooks the actual history of Crypto, which began with the creation of Bitcoin in 2009 and was formed by innovators as Ethereum co-founder Vitalik Buterin. Instead, Trump frames himself as the unlikely savior of Crypto, who saw its potential when no one else did.
“It was an industry that wasn’t particularly well,” Trump claimed, before making his most jaw claim: “I’m president, and what I have done there is a very important industry.”
For those who follow the space, the U-turn is inductive. In 2021, Trump’s main objection was that Crypto was “another currency competing against the dollar”, telling Fox Business that he wants the dollar to be “the currency of the world.”
Today he argues the opposite.
“I mean, people say it is pushing the dollar a lot, and it’s a great thing for our country,” Trump said.
He now frames a crypt not as a threat, but as a strategic advantage in a geopolitical chess match against China. “If we didn’t, China would do,” he stated. “China would love, and we ruled that industry.”
While Trump’s rebranding may seem sudden, it follows a period of intense crypto lobbying and a series of pro-Crypto moves through its management. Since returning to the White House, Trump has fully embraced the industrywhich many see as the future of finance.
This new wave of financial services is mostly built on blockchain technology, a decentralized digital registrar that records transactions safely without the need for an intermediate as a bank. This “decentralized finance” (or challenge) is in the heart of the crypto movement.
The Trump administration actively worked to legitimize it. With the A brilliant actionIt has recently reached a passage of stable law (a kind of crypto -stuck to a stable asset, such as the US dollar, to reduce volatility) and has even announced the creation of a US crypto -reserve.
This regulatory hug, which also includes the growing crypto -empire of its family, fed a market demonstration. Bitcoin is currently trading, according to a data company Co ringeckoMore than $ 105,000, and the total value of the crypto market is almost $ 3.4 trillion, a colossal recovery from the “crypto winter” of recent years, which has seen the sensational collapse of exchanges like FTX.
For an industry that has emptied a fierce debate and volatility, Trump’s public anointing is powerful, if a revisionist, seal of approval. The man who once saw Crypto as an enemy of the dollar now sees it as a patriotic heritage, which he personally built.
