Bitcoin and crypto much more important than any other industry: Donald Trump

President Donald Trump has again thrown his weight behind the cryptocurrency sector, describing it as one of the most important industries for America’s future. In a recent interview, Trump said that if the United States doesn’t lead on crypto, countries like China will. He also noted that his interest in Bitcoin predates his third presidential run.

Other than that, he mentioned that Bitcoin took a lot off pressure off the dollar and was optimistic on the GENIUS bill.

A Shift Toward Crypto Advocacy

Trump’s position marks a sharp contrast with his past remarks. In 2021, he called Bitcoin a “scam.” Today, he is actively pushing policies to expand the role of digital assets in the U.S. economy.

• Bitcoin 2024 Conference (July 27, 2024, Nashville): Trump promised to make the U.S. the “crypto capital of the planet” and proposed creating a Strategic Bitcoin Reserve. He blamed the previous Biden administration for stifling the industry and pledged to end what he described as regulatory “persecution.” He also vowed to remove SEC Chair Gary Gensler, who led numerous enforcement actions against crypto firms.
• White House Crypto Summit (March 7, 2025): Trump hosted crypto leaders at the White House, emphasizing that his administration aims to establish clear and favorable rules for the industry. He criticized what he called the Biden administration’s “anti-crypto stance” and backed new stablecoin legislation.
• Bitcoin Conference 2025 (May 27, 2025, Las Vegas): Eric Trump, Donald Trump Jr., and Vice President JD Vance reiterated the administration’s pro-crypto stance. Eric Trump declared that “America is going to win the crypto revolution,” and Vance promised to roll back restrictive regulations from the prior administration.
• Executive Order (March 7, 2025): Trump signed an order creating a Strategic Bitcoin Reserve and Digital Asset Stockpile using crypto seized in criminal cases. Crypto adviser David Sacks called the plan a “digital Fort Knox.”

Criticism of Fed Chair Jerome Powell

Trump has also criticized Federal Reserve Chair Jerome Powell over monetary policy and its impact on economic growth. He has argued that Powell’s rate decisions are too cautious and risk slowing innovation, including in the digital asset space. While not always directly linking Powell’s actions to crypto, Trump has suggested that tighter monetary policy hurts investment and undermines U.S. leadership in emerging technologies.

In August 2024, Trump said he would push for lower interest rates if re-elected. Since then, Powell cut rates slightly in September 2024, but Trump has remained skeptical of his overall approach. He has repeatedly suggested that Powell lacks boldness in managing the U.S. economy and has hinted at making leadership changes at the Fed if Powell’s term does not align with his administration’s priorities.