
Trump said he became a 'big crypto guy' to stay ahead of China and after seeing strong voter support. The remarks follow a $1.4 billion crypto disclosure tied to his family's projects.
President Donald Trump said his shift toward supporting crypto was partly driven by competition with China and the political weight of crypto voters.
Trump made the comments on July 6 during an Oval Office event for Trump Accounts, a savings program for children under 18. When asked whether the accounts could include Bitcoin, he said he had "become a big crypto guy" because the U.S. needed to stay ahead of China. He added that he was not a supporter at first but later saw the industry grow into a large market.
Trump also said he entered the sector "a little bit for politics" after seeing strong support from crypto users. The remarks offered a direct explanation for his move from crypto critic to one of the industry's most visible political backers.
His position marks a clear shift from his first term. Trump once called Bitcoin a "scam" in a media interview and said he was not a fan of digital assets. That changed as crypto became a larger political issue. In 2024, his campaign raised more than $4 million in crypto, including Bitcoin, Ethereum, XRP, USDC, and other digital assets. The campaign used those donations to court crypto voters and industry donors.
Trump said on Monday that the size of the industry also shaped his thinking. "This thing's got a lot of life," he said, while warning that China could move into the sector if the U.S. did not act.
The remarks came days after Trump faced new questions over his family's crypto income. As previously reported, Trump denied knowing about a $1.4 billion crypto windfall disclosed in his latest financial filing. That filing linked much of the income to Trump-branded crypto projects, including World Liberty Financial and token-related licensing deals. Trump and his sons are listed as co-founders of World Liberty Financial, a crypto platform that has drawn attention from lawmakers and ethics groups.
Trump rejected claims that his crypto support was personal. He said he does not speak with his children about their crypto business activity. "I let my kids do whatever the hell they do," he said during the event.
Trump also defended his administration's crypto stance and criticized the Biden administration's enforcement approach. He claimed that crypto companies benefited after he went "very pro crypto," while saying some investigations were dropped after his return to office.
The U.S. Securities and Exchange Commission has changed its approach to crypto under Trump. As previously reported, crypto was removed from the SEC's 2026 examination priorities, marking a shift from the prior focus on digital asset firms.
Congress is also weighing crypto market structure rules. As previously reported, the CLARITY Act debate remains active, with lawmakers still divided over parts of the bill, including stablecoin rules and oversight powers.
Trump's latest comments place politics at the center of his crypto turn. They also keep attention on the overlap between campaign support, family-linked crypto ventures, and the administration's push to make the U.S. a stronger base for digital asset companies.
Prepared with AlphaScala research tooling and grounded in primary market data: live prices, fundamentals, SEC filings, hedge-fund holdings, and insider activity. Each story is checked against AlphaScala publishing rules before release. Educational coverage, not personalized advice.