Bitcoin is back in the spotlight. US authorities have recognized the cryptocurrency’s potential, with President Donald Trump highlighting its role in alleviating pressure on the dollar.
Since taking office, the American leader has supported the creation of an industry that has become “strategically significant” for the United States. Trump believes that adopting cryptocurrencies has foreign policy implications and helps the country remain competitive on the global stage.
Trump noted that Bitcoin is increasingly integrated into the economy as more people use it for payments. He added that most US merchants now accept Bitcoin for goods and services. “I noticed more and more you pay in Bitcoin... I mean, people are saying it takes a lot of pressure off the dollar, and it's a great thing for our country,” the president emphasized.
Earlier, Trump stated that he had become a crypto fan several years ago. He highlighted that during the recent market downturn, BTC and other cryptocurrencies declined less than stocks. The president added that he does not personally invest in Bitcoin, though his children put money into various crypto projects.
When asked whether he would consider pausing his family’s cryptocurrency initiatives, Trump said that his sons manage the portfolio and he does not monitor their investments.
Last year, the Trump family launched World Liberty Financial (WLFI), a decentralized lending platform with its own stablecoin, USD1. Later, the US president introduced the TRUMP token, followed shortly by the MELANIA coin, which is dedicated to the first lady.
Recently, Eric Trump, the president’s son, suggested that Bitcoin could reach $170,000 by 2026. He admitted that Michael Saylor, chairman of MicroStrategy, which regularly purchases BTC for long-term storage, played an important role in sparking the Trump family’s interest in cryptocurrency.
