Donald Trump and Bitcoin: From ‘Not a Fan’ to Crypto President—With His Own Meme Coin

Bitcoin-wilder Donald Trump won The elections in November and January were inaugurated as the 47th President of the United States. But before formally oath, commander commander fell AND The same corner.

Yes, you read it right. Running on Solan The network, Trump Token at one point had a market ceiling of $ 14 billion. It has been since it has rushed to $ 1.8 billion, but this step has signaled the growing enthusiasm for the digital assembly space after a campaign to help bitcoiners and a fast moving sphere as a whole.

Trump has been described as a crypto-friendly candidate before the November divisible elections and brought millions of dollars to cash and Gifts of digital asset From the head of Silicon Valley. And then won.

But it wasn’t always like this: President Trump was once a reliable crypto critic. How did we get here?

Trump’s most defining premature commentary on data cryptocurrency by 2019 when as president it clarified He didn’t like Bitcoin.

“I’m not a fan of bitcoins and other cryptocurrencies that are not money and whose value is highly volatile and thin air -based,” said on Twitter at the time, before slamming Facebook’s plans for digital currency.

“We have only one real currency in the US and is stronger than ever, reliable and reliable,” he added. “It’s by far the dominant currency anywhere in the world and it always stays that way. It’s called the United States dollar!”

Trump repeatedly His belief during the run of a bitcoin bull in 2021. “Bitcoin just appears to be a scam,” he said on Fox Businessrepetition that he wanted the dollar to be the highest currency in the world.

Joining the world of NFT

It took him a long time to explicitly said he liked the highest cryptocurrency, and the journey began with the unlikely crypt’s madness: Nft collector’s items.

By the end of 2021, after Trump left the White House, his wife Melania notified Her plans for a Solan-Sbire NFT founded. Solana Labs clarified that it had nothing to do with running the collection on the blockchain and Trump continued Slam Crypto as “dangerous” despite his wife’s business.

Next year, however, the commander launched his own NFT collection. Stamped Ethereum network PolygonThe collection of digital trade cards was initially ridiculed– But he is still selling out quickly and earning millions of dollars.

Trump later said That he launched the collection only because he thought they were “kind of cute”. Has ever had launched Other collections about polygon and even some of the third file Bitcoin over Ordinary protocol. Fourth Run in August 2024 with the largest number of NFT.

Trump even claimed that the success of his collections NFT and a surprising number of buyers who used cryptocurrency rather than a fiano currency helped change his perspective for bitcoins and cryptocurrency.

A digital wallet tied to the President of the Analytics Analytics Intelligence for Blockchain analysis shows that it has hit in millions In NFT license fees – and also holds some of the largest unofficial Trump Meme coins, which were probably sent to a wallet without Trump’s consciousness or consent.

Trump’s cryptomats

But it was only last year, when Trump really raised Pro-Crypto speech. “I make money with that, I am also talking to it,” Trump said In the March interview with CNBC Squawk Box. “Mad new currency, that’s what I say.”

Then, while in May he hosts his NFT holders in his resort Mar-a-Lago, he said The crowd with whom was “good” crypto – and killed Biden and the Democrats for “against him”. Many have seen an event as turnover In conversations crypto politicians.

Reputation spread In May 2024, the richest man in the world and the largest donor Trump, Elon Musk, advised presidential hopes for a crypto strategy. (Musk denied news.) In July, the Republican Party issued a party’s proposal that explicitly mentioned the crypto– First for industry.

After survive The experiment in July, the trade tycoon and the former TV star of reality earned Musk’s public approval and support from many other important names in the digital assets. And the main cryptomatic figures as Winklevoss twins Gemini And founder Kraken Jesse Powell donated considerable amounts to Trump.

Trump then selected Senator JD Vance as his choice for a running friend, with Vice President at the time at the time as Pro-Krypt who previously published bitcoin possession between $ 100,000 and $ 250,000 back in 2021.

But the most tangible sign of Trump’s hug of crypt came when he he spoke At the Bitcoins Conference 2024 in Nashville in Tennessee. There he promised the crowd to create a “strategic bitcoin supply” for Earth and that its plan was to transform the US into a “crypto capital of the planet”.

The Trump family then teased and Decentralized Finance (Defi) The project dubbed World Liberty Financial, with Trump himself published more social media teasers during initial introduction.

President’s son Donald Jr. He said the crypto platform would be an equilibrium. “Too long, the average American has been pressed by large banks and financial elites. It’s time to stand up – said on Twitter (aka x).

Then the day after second attempt in his life, trump launched Project during a live conversation with Rug Radio (Unscramble‘With Sister Company). World Liberty Financial The aim is to offer lending and lending services for cryptocurrencies in the Ethereum network.

As the crypto token triggers, the project has been a little forfeited directly from the gate, can only sell 4% of their assigned tokens during their start. However, the sale was significantly torn before the inauguration of Trump, and the rest of the assignment was sold on January 20 – the day when he returned to the White House.

Unscramble then reported that the world financial project Liberty launched its own Stablecoin. Data on the string It shows that the token is available on the Ethereum and Binance BNB.

The Republican also has more crypto people in their team. Bitcoin Bull Robert F. Kennedy Jr. suspended His campaign to support Trump and then joined Trump’s temporary team. He is now the Minister of Health and Human Services. Orange-Pletl Cantor Fitzgerald CEO Howard Lutnick is also part of Trump’s political team and now serves as a Minister of Trade.

Elsewhere, The well -known Dogecoin Elon Musk fan led The effectiveness of the Ministry of the Government (DOGE), a program to reduce budgets and reduce jobs throughout the government. Since then has retired from the role and Messy, public breakup with Trump.

Crypto ambitions grow

Trump in September became the first current or former US president that we know- to use Bitcoin to buy: in the popular crypto bar in New York, Pubkey, former president Bought Hamburger using cryptocurrency.

“It’s the beginning of the new era,” he said with reference to the industry industry. And it wasn’t just a question: January 17th, launched a meme coin Running on Solana and Token is now one of the most valuable meme coins.

Trump’s token was running broadly criticized policies and analysts and some are considered a potential path for corruption. But while the price is falling from the top, it continued to see business demand, even in April, when Trump revealed plans host an exclusive dinner For the top holders of the trumps.

Trump’s exclusive dinner – in May for 220 coin holders meme – was a curious event, according to participants who spoke UnscrambleAnd the president only appeared briefly. VIP participants who have completed a special tour together with access to the event held on average Trump worth $ 4.8 million Get the best place at the party.

But Republican, in the first five months in office, made another, more serious campaign committed reality: He founded a strategic bitcoin reserve and became the first president Sign a crypt law law—Em creating the so -called IRS Defic Broker rule that could endanger the development of crypto applications in America.

Trump’s Sec also has discarded Numerous litigation and against crypto companies from previous administration and his family continues – albeit controversially – forward with its own cryptomic businesses: Donald Trump Jr. and Eric Trump are launch American Bitcoin, cooperation with Bitcoin mining company Hut8, which plans to become “the largest and most effective bitcoin miner in the world”.

Trump’s sons are also planning Start a crypt of wallet through your World Liberty Financial project. The Trump Meme Coin team initially said it will launch its own wallet with the topic of Trump, but this plan was then canceled a public (but short -term) dispute with Eric, Barron and Don Jr. (The Trump family seems to have recently reduced his share in world freedom.)

Trump’s media company Trump Media and Technology Group also in March signed Agreement on team with Crypto.com to offer ETF, with Trump media planning itself invest your own money in products.

Trump Media has plans If you want to run a point Bitcoin ETF in the US, after NYSE Arca submitted paperwork to mention “Truth Social Bitcoin ETF” by Yorkville America Digital. Truth Social Brand Common Bitcoins and Ethereum ETF He is also in works. Plus Trump Media gained more than $ 2.3 billion establish your own bitcoin treasury.

Trump critics claimed that presidential digital assets were a conflict of interest; Silicon Valley Bigwigs say he is for innovation. But one thing is sure: President Trump seems to set out on the crypt and bending his past view of this industry.

Edited Andrew Hayward

Editor’s note: This story was originally published on July 19, 2024 and last updated with new information on June 23, 2025.