Former U.S. President Donald Trump has made an unexpected shift in his stance on cryptocurrency, largely due to the success of his Ethereum-based NFT ventures. Speaking at the launch of World Liberty Financial, a new cryptocurrency platform he co-founded, Trump revealed that the excitement generated by his branded NFT trading cards changed his perspective on the digital currency space.
Trump, who had previously criticized Bitcoin and even labeled it a “scam” in 2021, admitted his initial skepticism. However, after the success of his first NFT collection in December 2022—where a significant portion of sales were made using cryptocurrency—his views evolved. “I was blown away,” Trump said, referring to the number of people who purchased his NFTs with crypto. He launched three additional collections, with the most recent released in August 2024.
Trump credited his sons, Eric, Donald Trump Jr., and especially Barron Trump, for educating him about cryptocurrency, joking about Barron’s knowledge and multiple digital wallets. His growing interest in the industry led to the creation of World Liberty Financial, which he hopes will position the U.S. as a global leader in the crypto market.
Although Trump acknowledged that crypto is still in its early stages, describing it as a “fledging business,” he emphasized its potential to become a “massive business.” He expressed concern that if the U.S. doesn’t act swiftly, other nations—particularly China—could take the lead in cryptocurrency adoption.
Trump also criticized the Biden administration’s approach to crypto, calling it “very hostile,” and vowed to make the U.S. the “crypto capital of the planet” if re-elected. His involvement in the industry marks a significant shift from his previous skepticism, as he now sees cryptocurrency as a crucial part of the future financial landscape.
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