President Donald Trump’s electrifying endorsement of crypto signals a massive momentum shift, as he vows U.S. dominance in digital assets, blasting rivals and touting crypto’s unstoppable popularity.
Trump: I Want Crypto Because Millions of People Want It
U.S. President Donald Trump voiced strong support for cryptocurrency during 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 nationally televised segment, Trump positioned himself as a proponent of digital assets and responded to skepticism over whether his advocacy is tied to personal gain.
“I’m in favor of crypto,” Trump stated. Responding to those who questioned whether he might be profiting from his position, he denied any financial benefit: “I’m not profiting from anything. All I’m doing is, I started this long before the election. I want crypto. I think crypto’s important because if we don’t do it, China’s going to.”
He highlighted the resilience of the digital asset market, emphasizing: “It’s new, it’s very popular, it’s very hot. If you look at the market, when the market went down, that stayed much stronger than other aspects of the market.” The president added:
But I want crypto because a lot of people, millions of people, want it.
The president also criticized the handling of crypto by his political opponent, stating: “I don’t know if you know that Biden went after it violently, and then before the election, he changed his tune entirely—his head of the SEC, everybody—changed their tune. You know why? Because there were hundreds of millions of people that are participating in crypto, and they wanted to get their votes. But it didn’t work.” When pressed directly on whether he is profiting off of his crypto, Trump replied: “I haven’t even looked.”
During President Joe Biden’s tenure, the SEC, under Chair Gary Gensler, adopted a stringent approach to cryptocurrency regulation, initiating numerous enforcement actions against crypto firms. In contrast, President Trump’s administration has embraced a pro-crypto agenda. Trump appointed Paul Atkins, a known crypto advocate, as SEC Chair, signaling a shift towards more favorable regulatory policies for digital assets. Additionally, Trump established a Strategic Bitcoin Reserve and a broader Digital Asset Stockpile, aiming to position the U.S. as a global leader in cryptocurrency. He also appointed David Sacks as the White House AI & Crypto Czar and recently hosted the first-ever White House crypto summit.
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