Key Takeaways
- Trump said Bitcoin relieves pressure on the US dollar and supports national interests.
- He emphasized the importance of US leadership in digital assets to counter China.
- Trump clarified his family's involvement in digital assets is managed by his sons and does not impact his policy decisions.
President Donald Trump declared during a June 27 White House press conference that Bitcoin “takes a lot of pressure off the dollar,” and emphasized US leadership in digital assets as a way to prevent China from dominating the sector.
Industry
He described Bitcoin as part of a powerful industry that has created jobs and investment opportunities in the US.
Trump noted that Bitcoin and other tokens declined less than equities during the latest market downturn, and highlighted that more merchants are now accepting Bitcoin for payments.
Family assets
Addressing questions about his family’s digital asset ventures, Trump clarified that his sons manage the family’s portfolio and insisted he is not personally involved while in office.
He stated that US dominance in the sector matters more than his personal finances.
The Trump family currently has interests in World Liberty Financial (WLFI), which offers its own stablecoin, and recently formalized ties with the TRUMP memecoin team.
Draft legislation in Congress aims to clarify the regulatory framework for digital assets, including distinctions between securities and commodities and the establishment of federal licenses for trading platforms. Trump has called for a clean version of a stablecoin-focused bill to provide market clarity and streamline approval.
Trump summed up his stance on the matter:
“Bitcoin taking off the pressure from a sovereign currency is a great thing for a country.”
