Trump Vows to Position US as Global Leader in Bitcoin and Crypto, Endorses Right to Self-Custody

Piles of voting signs with stars and stripes from the American flag and the names of Presidents Donald Trump and Joe Biden flying around on USA flag background. Presidential election concept illustration.
  • Donald Trump reaffirms his support for crypto, promising to secure Bitcoin’s future in the US and protect self-custody rights.
  • He asserts he would block any attempts to create a central bank digital currency and aims to isolate crypto from political threats like Elizabeth Warren.

Donald Trump has doubled down on his recent support for crypto. Speaking at an event, the former US president said he supports the sector and would “ensure the future of Bitcoin and crypto will be made in the USA and not driven overseas”.

Trump explained that he would support the right to self-custody and would “keep Elizabeth Warren and her goons away” from people’s Bitcoin – adding that he would like the vote of US crypto holders to get the job done.

Trump finally said he would “never allow the creation of a central bank digital currency”.

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In a post, Trump also accused President Joe Biden of trying to kill Bitcoin, saying, “Crooked Joe Biden, the worst president in the history of our country, wants it to die a slow and painful death”, additionally highlighting his newfound stance:

I am very positive and open minded to cryptocurrency companies, and all things related to this new and burgeoning industry.

Donald Trump

Well-known commentator Anthony “Pomp” Pompliano said he was stunned by the support and Trump’s extraordinary declaration to make the United States a leader in crypto:

All the critics were wrong. The government won’t ban it, they’re embracing it.

Anthony Pompliano

Other comments were varied – some argued that Trump’s comments are a reason to vote for him, while others questioned his sincerity, with one user asking, “And you believe him why?”

Another pointed to previous promises which were not kept, for example the building of a border wall for which Trump claimed Mexico would pay for.

Trump’s History With Crypto

While Trump may or may not stand by his word, it wouldn’t be the first time a politician has made boasting promises to get elected.

It is interesting though how the official stance on a topic can shift. While Trump said on many occasions that he didn’t believe in crypto, calling it a scam even in 2021, he is also invested in the space.

Of course, Trump has dabbled with NFTs in the past and again recently, but it seems he keeps his proceeds in crypto rather than getting a payout in US Dollars.

According to Arkham, the address 0x94845333028B1204Fbe14E1278Fd4Adde46B22ce is associated with Donald Trump. This address holds almost US$10 million (AU$15 million) in crypto, astonishingly, US$7 million in TRUMP coin (AU$10.5 million) and US$1.78 million (AU$2.68 million) in ETH.

Source: Arkham Intelligence

The website also reveals Trump supporters are actively donating to his campaign, and people seem to continue to buy Trump NFTs. Perhaps his renewed support for crypto is working, boosting his finances and maybe his popularity among US voters.

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Aaron Feuerstein

Aaron Feuerstein

Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.

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