The comments, made during a CNBC interview at the White House, marked another shift for a president who once dismissed Bitcoin as a threat to the dollar but has since recast himself as a champion of the sector. Trump said many people were using Bitcoin “at levels” that the public did not yet grasp, while also describing himself as a “big fan of crypto”.
His remarks came as his administration continues to promote a pro-crypto agenda, including a policy framework aimed at making the United States a leading hub for digital assets. Since returning to office in January 2025, Trump has moved to reverse several enforcement-heavy policies, placed crypto-friendly officials in key regulatory roles and supported the creation of a Strategic Bitcoin Reserve funded by government-held Bitcoin.
The policy turn has given the sector a powerful political ally at a time when Bitcoin remains volatile but increasingly integrated into mainstream finance. Bitcoin was trading near $62,947 on Thursday, after touching an intraday low of about $61,510 and a high near $63,093. The token remains far below its 2025 peak but continues to attract institutional interest through exchange-traded funds, corporate treasury holdings and retail platforms.
The administration’s approach has also raised scrutiny over the overlap between public policy and private financial interests. Trump’s latest financial disclosure showed more than $1.4 billion in income from cryptocurrency ventures during the previous year, including proceeds linked to token sales and other digital-asset projects. Separate estimates have placed the Trump family’s gains from crypto-related businesses since his return to the White House at more than $2 billion.
That has intensified criticism from ethics groups and political opponents, who argue that presidential support for crypto could benefit businesses tied to Trump and his family. The White House has rejected conflict-of-interest concerns, maintaining that policy decisions are intended to foster innovation, strengthen capital markets and prevent the United States from falling behind rival financial centres.
Bitcoin’s supporters say Trump’s comments reflect a wider change in market perception. Once viewed mainly as a speculative token, Bitcoin is increasingly being discussed as a reserve-style asset, a hedge against monetary debasement and a payment rail for parts of the digital economy. Large asset managers, fintech firms and trading platforms have expanded their crypto products, while listed companies have continued to hold Bitcoin on their balance sheets.
The Trump Accounts savings programme has added another point of debate. The initiative, launched on July 4, offers eligible newborns a government-backed contribution, with several major corporations pledging matching payments or related support. Trump has indicated that Bitcoin could eventually be considered as part of such long-term savings structures, though any move to expose children’s savings to crypto would face regulatory, political and fiduciary questions.
Crypto executives have welcomed the president’s language, seeing it as further evidence that digital assets have moved from the fringe of finance into mainstream policymaking. The industry has lobbied for clearer rules on custody, token issuance, stablecoins and exchange supervision, arguing that legal certainty would attract investment and prevent innovation from moving offshore.
Sceptics remain unconvinced. They point to Bitcoin’s sharp price swings, concentrated ownership, hacking risks, energy consumption and the role of speculative leverage across crypto markets. Academic research has repeatedly shown that Bitcoin’s behaviour as a safe-haven asset is inconsistent, while newer studies highlight persistent concentration of holdings among large entities and service providers.
The market reaction to Trump’s broader geopolitical comments this week also showed that Bitcoin has not escaped wider risk sentiment. The token fell after the president said a US-Iran ceasefire was over, with other major digital assets and crypto-linked equities also weakening. The move underlined Bitcoin’s continued sensitivity to liquidity conditions, interest-rate expectations and investor appetite for risk.
Arabian Post – Crypto News Network
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