Former U.S. President Donald Trump has undergone a surprising change of heart on cryptocurrency, thanks to the success of his NFT projects. Speaking at the World Liberty Financial launch event, hosted by Rug Radio, Trump revealed that the excitement surrounding his Ethereum-based NFT trading cards shifted his views on crypto.
Before releasing his first NFT collection in December 2022, Trump admitted that he wasn’t a fan of Bitcoin or cryptocurrency. He had previously criticized Bitcoin, even calling it a “scam” in 2021.
However, after witnessing the popularity of his branded NFTs, which are mostly purchased using cryptocurrency, Trump’s stance softened. “So many people paid this way,” he said, amazed at how much of the sales were in crypto. “If they would have been paying in dollars, I would have assumed that’s standard—but I was blown away.”
Since that initial success, Trump has launched three more NFT collections, with the most recent in August 2024. This growing involvement in the crypto space has led to his latest venture—World Liberty Financial—a cryptocurrency platform co-founded by Trump, his sons Eric, Donald Trump Jr., and businessman Steve Witkoff.
During a conversation on X Spaces, Trump shared his newfound enthusiasm for crypto, acknowledging that his sons, especially Barron, played a significant role in educating him about the industry. He humorously mentioned, “Barron knows so much about this. He talks about his wallet—he’s got four wallets or something.”
Describing crypto as a “fledging business,” Trump also mentioned it is a “massive business” and “has the chance to really be something special.”
Trump also expressed concerns that the U.S. could fall behind in the global crypto race if it doesn’t act swiftly, warning, “If we don’t do it, China is going to do it.” He vowed to make the U.S. the “crypto capital of the planet” if re-elected, pointing to the Biden administration’s “very hostile” approach towards the crypto industry.
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