Why Is Trump So Into Crypto?
The president’s enthusiasm for digital currency could destabilize America’s financial systems.
In 2019, President Donald Trump asserted that cryptocurrency was “highly volatile and based on thin air.” The description is still highly accurate—but Trump seems to no longer believe it. These days, he praises the crypto community as brimming with “the kind of spirit that built our country and is exciting to watch.”
What happened between Trump’s first and second terms is fairly predictable. Crypto advocates flattered him, and then he and his family personally invested in various crypto-related ventures. Just before his inauguration in 2025, he launched a $TRUMP meme coin, which reportedly has made his family and their partners a lot of money. Trump’s oldest sons recently invested in a bitcoin-mining operation. And they hold majority stakes in World Liberty Financial, making them major dealers in the crypto world. That might help explain why the president has declared that he wants the United States to be the “crypto capital of the world.”
