Trump declared an end to what he termed the Biden administration’s “war on bitcoin and crypto” during a keynote address at Saudi-backed Miami’s FII Priority Summit this week, positioning his administration as a catalyst for U.S. dominance in digital currencies. The 47th president highlighted his commitment to making America the “crypto capital” of the world, citing bitcoin’s recent all-time highs as evidence of market confidence in his economic agenda.
Speaking to global business leaders and foreign dignitaries, Trump linked economic growth to broader revitalization. “Since the [November] election, America’s economic engines have come roaring back to life in just a very short period of time,” he said, highlighting a nearly 10% surge in the Nasdaq and bitcoin’s “multiple all-time record highs.” He praised Miami as the “center of the action” for crypto innovation and hinted at deregulatory measures to attract blockchain investments.
Trump also spotlighted his newly established Department of Government Efficiency (DOGE), a cost-cutting initiative spearheaded by Elon Musk. The department aims to eliminate “wasteful spending,” with Trump proposing to redirect 20% of savings to taxpayers and debt reduction. “We’re saving billions every single day,” Trump claimed, crediting Musk’s “high IQ” and tech expertise for ensuring transparency. While short on specifics, Trump tied DOGE’s mission to fostering a pro-business climate for crypto expansion.
The president sharply criticized Biden-era policies, blaming “crushing regulations” and “rampant inflation” for stifling innovation. He contrasted this with his administration’s hiring freezes and foreign aid pauses, framing them as foundational to a “Golden Age of American prosperity.” Trump also lambasted international aid programs, citing examples as misplaced priorities now being redirected toward domestic initiatives.
Trump’s pro-crypto rhetoric drew applause from attendees, including Saudi officials and tech executives. He closed by reiterating his pledge to keep the U.S. at the “forefront of everything,” and “one of them is crypto.”
🚨JUST IN: President Trump (@POTUS) says he ended Biden’s war against crypto. He also said his administration is “committed to making America the crypto capital.” pic.twitter.com/R9J73m6zCi
— Bitcoin.com News (@BTCTN) February 20, 2025
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