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DW Newsletter # 196 – Donald Trump’s crypto revolution: from Bitcoin critic to blockchain leader

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Dear readers,

These days, the entire crypto world seems to be pinning its hopes on one man, Donald Trump, as his inauguration marks a new chapter for blockchain innovation, a stark departure from his earlier scepticism. Not so long ago, Donald Trump was one of cryptocurrency’s most vocal critics. In 2019, he took to X (formerly Twitter) to denounce Bitcoin and other digital assets, branding them as ‘not money’ and ‘based on thin air’. To Trump, cryptocurrencies represented instability, risk, and a lack of regulation, starkly contrasting the economic stability he valued. His disdain extended to Central Bank Digital Currencies (CBDCs), which he criticised as potential tools for governmental overreach. At the time, his views resonated with sceptics who feared crypto’s disruptive potential. 

Fast forward to recent months, Trump’s stance on cryptocurrency has undergone a radical transformation. Once a vocal detractor, he has emerged as a prominent figure in the crypto world. The turning point came when he posted on X again, but this time with a strikingly different tone: ‘Bitcoin mining may be our last line of defence against a CBDC. We want all the remaining Bitcoin to be made in the USA!’ The statement marked a complete reversal, signalling a shift in opinion and a strategic embrace of Bitcoin to bolster US dominance. For someone who once dismissed crypto, it marked the dawn of a bold new chapter—where everything changes from this moment forward.

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Trump’s journey into crypto reached its climax on his inauguration day as the 47th president of the US. Hours before taking the oath of office, Bitcoin soared to an all-time high of $109,036, a historic moment for the market. The crypto community was optimistic because of the record-breaking price and because Trump’s presidency heralded a new era of blockchain innovation. Speculation mounted that his administration would establish a strategic Bitcoin reserve within its first 100 days. For many, this signalled a shift from crypto being a fringe movement to becoming a cornerstone of US economic policy.

Adding fuel to the excitement, Trump unveiled his cryptocurrency: the $TRUMP meme coin, launched on the Solana blockchain. With its eye-catching name and ambitious goals, the token quickly amassed a market cap of $9 billion. Although developers insisted it was not a serious investment vehicle, critics within the crypto community labelled it a potential ‘rug pull’. Yet, the buzz was undeniable. The launch cemented Trump’s position as an active participant in the crypto world, showcasing his ability to blend digital innovation with his signature showmanship.

The Trump family’s involvement in cryptocurrency did not end there. Melania Trump also debuted in the space, launching her token, $MELANIA, on the Solana blockchain. Her token debuted with a market cap of $1.7 billion, complementing her husband’s initiatives and highlighting their shared vision for a robust digital economy. Together, the Trumps have become a formidable force in the crypto sphere, driving enthusiasm and innovation alike.

Trump’s evolution from crypto sceptic to advocate reflects a broader shift in the perception of digital currencies. His support has propelled Bitcoin into the mainstream, energised the market, and ignited a focus on US blockchain innovation. As the crypto community awaits his promised national Bitcoin reserve strategy, confidence remains high in his ability to deliver. Trump’s transformation is the story of a visionary businessman who recognised the potential of digital assets. From volatility to validation, the rise of Bitcoin adoption reflects the faith of those like Donald, who see its power to reshape the future.

Related news:

Melania Trump

The token commands a market valuation of $1.7 billion and follows the release of Donald Trump’s $TRUMP cryptocurrency, valued at $12 billion.

In other news..

TikTok’s return to US app stores still unclear

Amid a swirl of legal disputes and political intervention, TikTok users in the US eagerly await the app’s return to digital storefronts, with some turning to creative solutions and secondhand devices in their desperation.

China urges companies to decide TikTok’s future independently

China’s foreign ministry stated on Monday that companies should make independent decisions regarding their business operations and agreements.

Visit dig.watch now for the latest updates and other topics!

Marko, Nikoleta and the Digital Watch team


Highlights from the week of 17-24 January 2025

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She highlighted the potential for Trump Coin to be exploited by hostile entities to secretly channel funds to Trump, raising significant corruption and financial misconduct risks.

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The positive market sentiment has been linked to optimism about Donald Trump’s second term as US President, with expectations of crypto-friendly policies enhancing the United States’ leadership in blockchain innovation.

trump tiktok

Service providers face huge liability over the ban due to legal risks.

Ivanka Trump

The announcement was made via social media platform X, emphasising the risk of deception and financial fraud posed by the fake coin.

trunmp und mupsk

Trump supports Elon Musk potentially acquiring TikTok amid ongoing debates over its US operations and national security concerns.

SEC US

A new approach to crypto regulation emerges with the SEC’s task force under Trump’s administration.

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EU regulators demand internal documentation and API access to scrutinise X’s recommendation systems.

trump order

Free speech advocates are sceptical of the new President’s order.

X

Amid shifts in the social media market, X launches a vertical video feed for US users, targeting TikTok’s uncertain foothold.

tiktok and the flag of the usa

Trump’s latest decision adds to tensions between the US and China, complicating TikTok negotiations.

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A clash over telecom royalty disputes.


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