Trump says Bitcoin eases pressure on dollar, boosts America’s crypto dominance

President Donald Trump said Bitcoin (BTC) transactions “take a lot of pressure off the dollar” and argued that US leadership in digital assets blocks China from dominating the sector.

He made the comments during a White House press conference on June 27, which was held after what he described as a major Supreme Court victory for his administration.

Trump called cryptocurrency “an industry” and said he became a “fan of crypto” several years ago. He noted that Bitcoin and other tokens fell less than equities during the most recent market decline and claimed the US has “created a very powerful industry” that now produces jobs and investment. 

He added that more merchants now accept Bitcoin for payments and repeated his view that if the US did not nurture digital assets, “China would.”

Personal holdings contested on Capitol Hill

A reporter asked whether Trump would pause his family’s cryptocurrency ventures so that undecided Democrats might support pending digital asset legislation.

Trump declined, stating that his sons manage the portfolio and that he “doesn’t care about investing” while in office. He said that US dominance of the sector matters more than personal finance and insisted that his involvement did not hinder congressional negotiations.

The President’s family is currently involved in World Liberty Financial (WLFI), a credit market with its own stablecoin, USD1. 

Additionally, they formalized ties with the team behind the TRUMP memecoin on June 6, with Eric Trump adding that the WLFI would acquire a substantial position in the token for their treasury.

Draft bills in the House and Senate aim to provide clarity on topics related to cryptocurrency, such as determining when tokens qualify as securities, establishing a federal license for trading platforms, and creating a framework for stablecoins in the US. 

Democratic sponsors have urged Trump to divest to help the measures advance but the president said statutory debates should proceed on their own merits. As a result, a delay in approving the GENIUS Act happened, which only recently left the Senate to progress in the House.

Meanwhile, Trump recently called for a clean version of the stablecoin-focused bill to streamline its approval and create clarity for this market in the US.