Trump backs crypto with millions of supporters and vows US leadership

Former President Donald Trump expressed strong support for cryptocurrency during a May 4 interview on NBC’s Meet the Press.

“I’m in favor of crypto,” he stated, and denied profiting from his position, saying, “I’m not profiting from anything. All I’m doing is, I started this long before the election.”

“If we don’t do it, China’s going to,” Trump emphasised, warning about the importance of crypto for U.S. competitiveness.

“When the market went down, that stayed much stronger than other aspects of the market,” he noted, highlighting crypto’s resilience amid market fluctuations.

“But I want crypto because a lot of people, millions of people, want it,” Trump added.

“Biden went after it violently, and then before the election, he changed his tune entirely… because there were hundreds of millions of people that are participating in crypto, and they wanted to get their votes,” he criticised President Joe Biden’s approach to crypto regulation.

Trump’s administration took a different stance on digital assets compared to Biden’s.

Under Trump, Paul Atkins, a crypto advocate, was appointed SEC Chair, signaling a shift toward more favorable crypto policies.

Trump also established a Strategic Bitcoin Reserve and a Digital Asset Stockpile to advance U.S. leadership in cryptocurrencies.

He appointed David Sacks as White House AI and Crypto Czar and hosted the first White House crypto summit.

These moves reflect an effort to integrate crypto into national strategy and regulatory frameworks.

Trump’s comments and past actions suggest a continued push for U.S. dominance in digital assets amid growing global competition.