TLDR
- Trump admitted he got into crypto “a little bit for politics” after seeing public enthusiasm for it
- He cited competition with China as a key reason for his pro-crypto stance
- Trump’s family earned more than $1.4 billion from crypto last year, largely through World Liberty Financial
- He said he does not speak to his children about their crypto business interests
- His pivot to crypto coincided with the industry spending around $170 million to support pro-crypto candidates in the 2024 election
Donald Trump says he became a supporter of cryptocurrency partly for political reasons and partly because he saw money flowing into the industry.
JUST IN: 🇺🇸 President Donald Trump when asked if Bitcoin will be put in Trump Accounts:
“I've become a big crypto guy…I’m a fan.” 👀 pic.twitter.com/wvrQHVobu4
— Bitcoin Magazine (@BitcoinMagazine) July 6, 2026
Trump made the comments on Monday during a White House press conference to announce “Trump Accounts,” a new tax-advantaged investment vehicle for children under 18.
When asked whether Bitcoin would be included in those accounts, Trump did not answer directly. Instead, he explained why his views on crypto had changed.
“I’ve become a big crypto guy only for one reason: If we don’t have it, China’s going to have it,” Trump said.
He added that he had watched the industry grow during his first term and saw a large number of people who were passionate about it.
“I got involved in it a little bit for politics,” he said. “I realized there are a lot of people that love crypto.”
This is a change from his earlier position. During his first term, Trump called Bitcoin “a scam” and said he was “not a fan” of cryptocurrency.
Trump’s Family Has Deep Crypto Ties
Trump and his sons are listed as co-founders of World Liberty Financial, a crypto platform. According to financial disclosures released on June 30, Trump earned more than $1.4 billion from crypto-related activity last year.
At the press conference, Trump tried to separate himself from those business interests.
“I let my kids do whatever the hell they do. I don’t talk to them, ever, about it,” he said.
He described his support for crypto as coming from a sense of national interest, not personal gain.
The financial disclosures have added pressure to ongoing talks in Washington. Lawmakers from both parties have been working on legislation that would regulate the crypto industry for the first time at the federal level. Part of those discussions involves ethics rules that would limit how elected officials and their families can profit from digital assets while in office.
Crypto Lobby Spent Big in 2024
Trump’s shift on crypto came as the industry became a major political donor. The crypto lobby spent around $170 million in the 2024 election to support mostly Republican candidates. The industry is expected to spend even more in the upcoming midterm elections.
Trump also claimed that the Biden administration had dropped investigations into crypto companies once he declared himself pro-crypto. Under his administration, the Securities and Exchange Commission has halted multiple investigations and withdrawn several enforcement actions against crypto firms, some of which had donated to Trump’s campaign.
“Every time I see a crypto guy where they dropped an investigation, I said: You’re lucky I’m president,” Trump said.
Trump’s financial disclosure, released last week, showed hundreds of millions in Bitcoin and Ethereum tied to World Liberty Financial.
