In a series of new comments on 27 June, President Donald Trump did not just embrace the world of cryptocurrency; He claimed to be its founding father. Dressing a picture of a failed industry, which he saved from a single-hand, Trump cast himself as a visionary, who turned Crypto into a “very powerful industry” required for American dominance.
It is an adventure claim, especially for a person who recently as 2021, Bitcoin is called the “scam” that was “based on thin air.”
Crypto’s highest-profile is the axis Starc for its self-proclaimed architect from Skptic. Speaking at a press conference of the White House, Trump deployed his participation as a long -holded mystery before his 2024 runs.
“I joined it a few years ago, and before the second term,” he said. “I joined before running … it has become amazing. I mean, this is the work that it produces, and I pay more and more you pay in bitcoin.”
This new story easily sees the real history of Crypto, which began in 2009 with the creation of bitcoin and was shaped by innovators such as Atherium co-founder vitallic butterin. Instead, Trump frameed himself as an unexpected savior of Crypto, who saw his ability when no one else did it.
“It was an industry that was not particularly good,” Trump claimed, before claiming to leave his most jaws: “I am President, and what I did is the creation of an industry that is very important.”
For those who follow the space, U-turn is a whiplash-induction. In 2021, Trump’s main objection was that Crypto was “competing with another currency against the dollar,” the Fox was telling the business that he wanted the dollar to be “the world’s currency”.
Today, he argues the opposite.
“I mean, people are saying that it takes much pressure from the dollar, and it’s a great thing for our country,” said Trump.
He now frames Crypto as a threat, but as a strategic property in a geopolitical chess match against China. “If we did not have it, it would be China,” he announced. “China will like, and we dominate that industry.”
While Trump’s rebranding may occur suddenly, it follows a series of acute crypto lobbying and a series of pro-crypto moves by their administration. Since returning to the White House, Trump has Embraced the industry completelyWhich see many as the future of finance.
This new wave of financial services is largely created on blockchain technology, which is a decentralized digital laser that safely records transactions without the need of a middleman. It is at the center of “decentralized finance” (or DEFI) Crypto movement.
The Trump administration has actively worked to legalize it. with Talented actIt has recently passed a law for StableCoins (a type of crypto of a type of crypto, which, like the US dollar, to reduce volatility) and even announced the creation of the creation of an American Crypto Reserve.
This regulator hug, including his family’s growing Crypto Empire, has fuel a market rally. According to the data firm, bitcoin is currently trading CoingkoMore than $ 105,000, and the total value of the Crypto market is approximately $ 3.4 trillion, a huge recovery from the “Crypto winter” of recent years, which was seen by the magnificent collapse of exchanges such as FTX.
For an industry that has faced fierce debate and instability, Trump’s public consecration is a powerful, if revisionist, seal of approval. The man who once saw Crypto as a dollar enemy now sees him as a patriotic heritage that he made personally.
