President Donald Trump has surprised many by his repeated and enthusiastic support for Bitcoin, calling it “amazing” and saying it takes pressure off the U.S. dollar.
Once a critic, Trump has done a 180 and is now praising the scarce digital asset as a job creator, economy booster and strategically important industry for the United States.
During a recent White House press briefings, Trump highlighted the growing role of Bitcoin in the U.S. economy and how it will benefit the country in the long run.
“It has become amazing. I mean, it is the jobs that it produces, and I notice more and more you pay in bitcoin,” Trump said. “People are saying it takes a lot of pressure off the dollar, and it is a great thing for our country.”
This is a big change from his previous stance. In 2021 he called it a “scam” and said it would hurt the dollar. Fast forward to 2025 and the president is now positioning the Bitcoin industry as essential to U.S. economic strength and technological leadership.
Trump is now presenting himself as a Bitcoin pioneer. He’s taken credit for building the American Bitcoin industry and says under his leadership the U.S. has become the dominant player in digital assets.
“I got involved with it a couple of years ago, and before the second term,” Trump said.
“I became a fan of crypto, and to me, it’s an industry. I view it as an industry, and I am president. And if we did not have it, China would, or somebody else would, but most likely China would love to, and we have dominated that industry.”
Competing with China has become a big part of Trump’s narrative. He warns that without his leadership in digital assets, China would have filled the void and weakened America’s position on the world stage.
Trump has repeatedly said Bitcoin takes pressure off the U.S. dollar especially when inflation, debt and dollar weakness are concerns.
This is the Triffin Dilemma theory where issuing the world’s reserve currency means a country has to run permanent trade deficits and weaken its currency in the long run. According to Trump and some economists, Bitcoin can be the counterbalance.
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“Bitcoin taking off the pressure from a sovereign currency is a great thing for a country,” Trump said.
Macroeconomist Lyn Alden’s phrase “nothing stops this train” has also been mentioned in the conversation, referring to the global governments printing more money—more reason for Bitcoin to be a hedge.
Trump’s involvement in digital assets hasn’t been without controversy. Critics have pointed to his family’s ties to World Liberty Financial (WLFI), a DeFi platform now issuing its own stablecoin.
Trump has responded by saying his sons manage the family’s digital asset holdings and he has no personal involvement while in office.
“I don’t care about [that] … I have my kids, and they invest in different things. They do believe in it,” he said. “But I’m president, and what I did do there is build an industry that’s very important.”
