Bloomberg Report: Trump and Bitcoin
At the TOKEN2049 event in Dubai, Eric Trump revealed that both he and President Donald Trump hold "a lot of Bitcoin". Describing BTC as "digital gold", Eric predicted a strong price increase and emphasized long-term potential. Although he did not provide specific figures, he confirmed this is a significant personal investment.
Cryptocurrency Policy and Support
Donald Trump has repeatedly affirmed his desire for cryptocurrency success, aiming to compete with China. He praised Bitcoin for its sustainability during the April financial downturn, demonstrating superiority over traditional markets. The Trump administration took supportive actions for the cryptocurrency sector. In March, the President signed an order to consolidate seized Bitcoin into a US cryptocurrency reserve, as well as establishing a reserve from other seized assets without affecting the state budget.
Strategic Appointment
Trump appointed Paul Atkins as the new SEC Chairman. Atkins was tasked with establishing clear, cryptocurrency-friendly regulations, in contrast to the previous administration. Before returning to office, Trump drew attention by launching Non-Fungible Tokens and the TRUMP Token. Although the Token's market capitalization once reached $75 trillion, it subsequently dropped by over 90%. Trump denied financial involvement and profiting from the inflation.
Conflicts of Interest and Controversy
Since continuing his term, Trump's conflicts of interest have been scrutinized, particularly regarding World Liberty Financial. New York Times journalist Eric Lipton reported that Trump blurred the lines between personal interests and public policy. Following the GENIUS Act's promotion, Trump's family company quickly issued a stablecoin, becoming a major global issuer. This led to a Senate Democratic investigation into "Trump's cryptocurrency corruption", along with a proposed Cryptocurrency Corruption Elimination Act to prevent officials and their families from profiting from cryptocurrency.
