Trump Endorses Cryptocurrency: Declares It "Sizzling" During Market Resilience Amidst Crash
Stayin' Strong and Scorching Hot: Trump's Pro-Crypto Rant
Despite Bitcoin's failed attempt to hit the $100,000 mark and a minor 2.1% dip in the broader market, President Donald Trump is still riding the crypto wave. In a recent sit-down with Kristen Welker from Meet the Press, Trump called cryptocurrencies "very popular," "very hot," and even "much stronger" than the stock market.
During the discussion, Trump tackled various crypto-related topics, including his personal holdings, the PR surge of his namesake meme coin, TRUMP, and his administration's stance on crypto policy.
The Trump Token's Steamy Dinner Party
When the subject of TRUMP's expansive surge in value after an exclusive dinner invite to top holders came up, Trump quipped, "I don't even know that. What did it surge to?" After clarification that it had spiked a lot, Trump scoffed, "Billion dollars?" before dismissing it as insignificant: "Well, that doesn't mean anything."
Reports earlier in the week suggested that the price surge might have been contrived, with on-chain data revealing large transfers to centralized exchanges post-dinner invite. Many in the crypto community speculated that the TRUMP team was pulled off a "pump and dump" move after the event. Trump, however, denied any profit from the token, simply stating, "I'm not profiting from anything."
Endorsing the Digital Gold Rush
What truly stood out in the interview, though, was Trump's fervent endorsement of crypto's importance on the global stage. "I want crypto. I think crypto's important because if we don't do it, China's going to," he declared. Trump also emphasized crypto's vigor, saying, "It's very popular, it's very hot," while highlighting the fact that the assets seemed more resilient during the recent market slump triggered by a tariff clash between the U.S. and its major trading partners.
Trump further admitted that his sudden fondness for cryptocurrencies was due to their meteoric rise in popularity. "Millions of people want it," the politician proclaimed. Trump's hyperbolic praise of cryptocurrencies came at a time when reports circulated that a company linked to him, Trump Media & Technology Group, was considering embedding crypto into its business model.
The King of Crypto Stands Ground
Meanwhile, Bitcoin, the reigning cryptocurrency, peaked at $98,000 on Friday but failed to maintain the momentum, slipping back below $96,000 over the weekend. The pullback followed a brief bull run from the $93,000-$95,000 consolidation zone that had held strong throughout late April.
With a current trading price of $94,666, Bitcoin's daily volume remained substantial, registering around $19.5 billion in trades over the past 24 hours while preserving its market dominance above 60%.
Got Bitcoin? Get Ready to Stack It!
In a significant move, Trump instituted an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve. This reserve will secure bitcoin forfeited to the U.S. Treasury, with plans to manage it as a strategic store of value. The order bans selling the held bitcoin and allows for budget-neutral strategies to acquire additional bitcoin[3].
This executive order also outlined the creation of a broader U.S. Digital Asset Stockpile to manage non-bitcoin assets seized by the Treasury, such as ether and ripple[3]. Furthermore, in mid-2025, Trump signed H.J. Res. 25, removing tax requirements for decentralized exchanges (DEXs)[2]. The legends grow, as cryptocurrencies continue to dominate the global scene. Don't miss the ride, grab your Bitcoin wallet, and hold tight!
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- During the discussion, President Donald Trump expressed his admiration for the digital gold rush, stating, "I want crypto. I think crypto's important because if we don't do it, China's going to."
- In a significant move, Trump instituted an executive order on March 6, 2025, establishing a Strategic Bitcoin Reserve, demonstrating his continued support for the blockchain technology and cryptocurrencies like Bitcoin.
