rewrite this title The Trump Effect on the Crypto Market

During his first presidential term, U.S. President Donald Trump was not keen on the cryptocurrency market. However, in his second presidential campaign, his statements and actions have seemingly propelled these investment assets forward. While Donald Trump’s planned policies during his election campaign have captured global attention, his shifting stance on the cryptocurrency market has been a particularly striking point.

Trump, who was previously unsupportive of the crypto market in his first term, stated in his second presidential campaign that he would make Bitcoin a reserve asset and remove legal obstacles facing the crypto sector. This led to increased interest in Bitcoin and other cryptocurrency investment tools. Trump’s policies have given the crypto market’s investment instruments a significant boost.

Trump first made a major negative comment about the cryptocurrency market in July 2019 via Twitter (X), stating, “I am not a fan of Bitcoin and other cryptocurrencies. They are not money. Their value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activities. We have only one real currency in the U.S. and it is stronger and more reliable than ever. It is by far the most dominant currency anywhere in the world, and it will always remain that way. It is called the United States Dollar!”

Approximately five months after leaving his first presidential term, in June 2021, Trump intensified his criticism of the cryptocurrency market in an interview with Fox Business, saying, “Bitcoin just looks like a scam. I don’t like it because it’s another currency competing with the dollar.” He also noted that Bitcoin should be “very, very highly regulated.”

In December 2021, in another interview with the same channel, Trump expressed his concerns, stating, “I’ve never loved it [Bitcoin] because I like the dollar. I think the currency should be the dollar. So, I’ve never been a big fan. But it’s growing bigger and bigger, and nobody’s doing anything about it. I don’t want all these other currencies. One day there could be a crash the likes of which we’ve never seen before. I think it’s a very dangerous thing.”

Trump’s First Steps Towards Crypto

After Trump announced his re-candidacy for the U.S. Presidency, his rhetoric regarding the cryptocurrency market sharply contrasted with that of his first term.

Shortly after announcing his re-candidacy, in December 2024, Trump made his commercial entry into digital assets by launching his NFT card collection.

In May 2024, during his presidential campaign, Trump announced he would start accepting cryptocurrency donations as part of an effort to build a “crypto army” before the election. During an event, he received financial support from industry proponents for his campaign.

In June 2024, Trump attended a fundraising event hosted by David Sacks, an entrepreneur, venture capitalist, and pro-crypto figure who would later become his administration’s “AI and Crypto Czar.”

Trump’s Bitcoin 2024 Speech

Speaking at the Bitcoin 2024 Conference in Nashville, Donald Trump delivered a speech that clearly demonstrated his complete shift in crypto policies.

Trump expressed his desire for crypto to be mined, processed, and produced in the U.S., stating, “Bitcoin is going to the moon, and I want the U.S. to lead this journey.”

Trump also promised to make the U.S. the planet’s crypto capital and the “world’s Bitcoin superpower.” He announced that he would create a strategic Bitcoin reserve using the Bitcoin held by the state.

Trump declared that if elected, his first act would be to dismiss Gary Gensler, Chairman of the Securities and Exchange Commission (SEC). Gensler was known for his stringent stance against the industry.

Trump also vowed to end the Biden administration’s “Operation Choke Point 2.0,” a financial crackdown on crypto. He emphasized that he would establish a Presidential Advisory Council to work on Bitcoin and crypto.

This council, Trump stated, would create a transparent regulatory framework beneficial to the industry. “Of course, there will be regulations, but now those rules will be written by people who love your industry, not by those who hate it,” he said.

In a statement contrary to his rhetoric before 2021, Trump criticized those who view Bitcoin as a threat to the dollar, arguing, “They’re looking at it completely backward. Bitcoin doesn’t threaten the dollar. What truly threatens the dollar is the behavior of the current U.S. government.”

Crypto Ventures and Investments

In September 2024, the day after an assassination attempt against him, Donald Trump appeared live to announce his new crypto venture, World Liberty Financial, stating on social media platform X, “Crypto is one of the things we have to do. Whether we like it or not, I have to do it.”

After taking office on January 20th, Trump formed his economic team with “crypto-friendly” individuals, and in March, he signed an executive order to establish a “strategic Bitcoin reserve.”

In January, U.S. President Donald Trump further increased his interest in the cryptocurrency market by launching a cryptocurrency project named “Trump.” Immediately after, a project named “Melania” was also released on behalf of his wife, Melania Trump.

Subsequently, the White House hosted its first-ever cryptocurrency summit in March. At the summit on March 7th, Trump stated that they were working to fulfill his promise of making the U.S. the “world’s Bitcoin superpower” and the “planet’s crypto capital.”

The summit was attended by David Sacks, the White House’s AI and Crypto Czar, Secretary of Commerce Howard Lutnick, Secretary of Treasury Scott Bessent, as well as leading figures, senior executives, and investors from the cryptocurrency market.

In May, Trump hosted a private event bringing together the top investors in the memecoin he launched. To attend this event alone, invitees purchased a total of $148 million worth of tokens.

Also in May, Trump Media and Technology Group, the parent company of social media platform Truth Social, streaming platform Truth+, and FinTech brand Truth.Fi, announced that it had signed subscription agreements with approximately 50 institutional investors. Under these agreements, the company would raise approximately $2.5 billion in funding by selling around $1.5 billion in stock and $1 billion in convertible bonds.

The statement noted that the company plans to use the proceeds to create a Bitcoin treasury, emphasizing that this move is one of the largest Bitcoin treasury deals among publicly traded companies.

Trump’s Media Company Files for Bitcoin and Ethereum ETFs

On June 16, 2026, U.S. President Donald Trump’s social media company applied to the U.S. Securities and Exchange Commission (SEC) for a Bitcoin and Ethereum Exchange Traded Fund (ETF).

Trump Media and Technology Group stated in a related announcement that the ETF would directly hold Bitcoin and Ethereum, with 75% of its assets invested in Bitcoin and 25% in Ethereum. The fund would offer shares to investors reflecting the price performance of Bitcoin and Ethereum.

The statement added that Crypto.com would be the custodian and primary trade executor for this ETF’s Bitcoin and Ethereum holdings.

The launch of the “Truth Social Bitcoin and Ethereum ETF” is contingent upon the registration statement becoming effective and the company’s rule change application being approved by the SEC. Following its introduction, the ETF’s shares would begin trading on the NYSE Arca exchange.

Following Trump’s inauguration and the signing of an executive order declaring Bitcoin a strategic reserve, Bitcoin reached a record high of $111,900 during the year. Since the beginning of the year, Bitcoin has gained 15% in value, stabilizing above $107,500.

Creation of a New White House Position for Crypto and AI Stands Out

Ugur Guzel, International Markets Strategist at Metaverse Planet commented to Anadolu Agency on the matter, “My humble opinion is that the Republican Party’s agenda plays a larger role here. Both the agenda’s warm approach to new technologies and their understanding of the importance of stablecoins as a bridge between traditional finance and modern finance are, I believe, factors that form the bigger picture compared to just Trump’s thoughts.”

As an example, when discussing the bridge between traditional and modern finance, Guzel mentioned that the total amount of U.S. Treasury securities held by Tether and Circle being greater than that held by Germany is an unspoken but significant fact. He added that on Trump’s side, the most notable development is the creation of a new position within the White House for crypto and artificial intelligence.

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