US Republican presidential candidate Donald Trump has apparently changed his mind about Bitcoin. The former Commander-in-chief previously said he’s “not a fan of Bitcoin,” said it “seems like a scam,” and claims it “can facilitate unlawful behavior, including drug trade and other illegal activity.”
However, he’s now claiming that he’s “fine” and “good” with the world’s leading crypto and that its future “will be made in the USA.”
The about-face took a few years. As the US President on July 11, 2019, Trump tweeted clearly, “I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.
“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity… We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!”
Two years later, Trump’s views on Bitcoin hadn’t changed. He remained decidedly negative. On June 7, 2021, he answered a question about Bitcoin on live TV. “Bitcoin — it just seems like a scam. I don’t like it because it is another currency competing against the dollar. Essentially, it is a currency competing against the dollar. I want the dollar to be the currency of the world. That’s what I’ve always said.”
Trump makes crypto millions, stops attacking Bitcoin
However, over the past three years, Trump has changed his tune. Indeed, during the 2021 NFT boom, he made a few million dollars from selling digital cards and has since launched several additional collections.
And on May 8 this year, at a paid event at Mar-A-Lago, Trump discussed his views on crypto with owners of his Trump Digital Trading Cards MugShot Edition Commemorative Dinner NFTs. Speaking to owners of these tokens, he lamented crypto entrepreneurs “moving out of the US because of hostility toward crypto.” He promised, “We have to let them be here.”
Speaking generally about crypto, Trump concluded, “I’m fine with it. I want to make sure it’s good and solid and everything else, but I’m good with it.”
That positive rhetoric continued at the Libertarian National Convention on May 25, 2024. In prepared remarks posted to Truth Social, Trump said, “I am very positive and open-minded to cryptocurrency companies, and all things related to this new and burgeoning industry. Our country must be the leader in the field.”
Speaking live at the convention, Trump added, “I will also stop Joe Biden’s crusade to crush crypto; we’re going to stop it. I will ensure that the future of crypto and the future of Bitcoin will be made in the USA, not driven overseas. I will support the right to self-custody.”
“To the nation’s 50 million crypto holders, I say this: With your vote, I will keep Elizabeth Warren and her goons away from your Bitcoin,” he continued.
Read more: Trump resorts to Bitcoin Ordinals to boost failed NFT collection
Does Donald Trump currently own bitcoin?
Trump currently owns approximately $11 million worth of crypto assets, including NFTs, altcoins, and stablecoins. His largest holding is TRUMP, a meme coin. He also earned ether (ETH) via his position as President of CIC Digital LLC and CIC Ventures LLC, which licensed his likeness, name, and image under a paid licensing agreement to NFT INT LLC, which manages his NFT collections.
Read more: So you don’t have to: Watching BitBoy and Trump Jr. talk about crypto
Trump disclosed his crypto holdings when formalizing his candidacy with the US Federal Election Commission (Office of Government Ethics Form 278e part 1 and 2).
Trump doesn’t currently own any bitcoin — at least according to Arkham Intelligence. He has, however, confirmed plans to launch an Inscription collection, tentatively named the Bitcoin Ordinal Trump Digital Trading Card, on the Bitcoin blockchain.
Importantly, his presidential campaign accepts crypto donations. However, neither Trump nor his campaign holds onto those. Instead, Coinbase facilitates their acceptance and immediate liquidation. Coinbase accepts bitcoin plus altcoins like ETH, SOL, USDC, DOGE, SHIB, and others.
