President Trump Calls Bitcoin ‘Amazing’, Says It Could Ease Pressure On U.S. Dollar

President Donald Trump once again shared supportive remarks about the crypto industry on Friday.

When asked during a White House press briefing whether he was willing to pull away to help multiple crypto-related bills pass speedily through Congress, which have encountered roadblocks from Democrats who oppose his personal crypto ventures, Trump indicated that he was interested in crypto even before deciding to run for re-election in 2022.

“I got involved before I decided to run,” he said. “I was in Bitcoin then, not knowing if I was going to do it a third time.”

The President contended that under his leadership, America has dominated the crypto space, helping to build a “very powerful industry.” According to Trump, if the US had not embraced the crypto sector, China or another global competitor likely would have filled the void. 

“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.”

In recent weeks, Democrats have threatened to cancel support for key crypto market structure laws, arguing that the president’s myriad lucrative crypto ventures are a deal-breaker and an inappropriate conflict of interest.

The Senate recently passed the landmark GENIUS Stablecoin bill in a 68-30 vote, without proposed amendments from Democratic lawmakers striving to limit a US president’s crypto ties.

California Senator Adam Schiff introduced the Curbing Officials’ Income and Nondisclosure (COIN) Act earlier this week. The bill would prevent the financial exploitation of any digital assets by public officials, including the president and the First Family. The proposed legislation followed Trump’s disclosure of $57 million in earnings tied to World Liberty Financial (WLF), the decentralized finance platform backed by his sons.

“I don’t care about… I have my kids, and they invest in different things. They do believe in it,” Trump asserted at the press briefing. “But I’m president, and what I did do there is build an industry that’s very important. And you know, if we didn’t have it, China would.”

Bitcoin Takes Pressure Off The Dollar

President Trump further suggested that Bitcoin is playing a key role in supporting the United States dollar. In his opinion, the alpha crypto “takes a lot of pressure” off the dollar, which is a boon for the country.

“I notice more and more of you pay in Bitcoin,” Trump asserted. “People are saying it takes a lot of pressure off the dollar, and it’s a great thing for our country.”

He also noted that Bitcoin was creating jobs for Americans. “It’s become amazing,” Trump opined. “It’s the jobs that it produces.”