Key Takeaways
- Donald Trump shared a widely praised Bitcoin explainer video by Peter Van Valkenburgh.
- Trump's administration established a Strategic Bitcoin Reserve, but confusion remains over government holdings.
- Bitcoin lagged behind Ethereum, Dogecoin, and Solana in recent weekly performance.
President Donald Trump highlighted Bitcoin on Sunday by sharing an explainer video from Peter Van Valkenburgh, the Executive Director of Coin Center, calling it the “greatest Bitcoin explanation of all time.”
Trump amplifies Bitcoin message
Trump posted Van Valkenburgh’s October 2018 testimony before the Senate Banking Committee on his Truth Social account.
In the video, Van Valkenburgh describes Bitcoin as a global payments system that operates without intermediaries:
“The lack of any corporation in between means that Bitcoin is the world’s first public digital payments infrastructure. Bitcoin is the world’s first globally accessible public money.”
He also acknowledged Bitcoin’s limitations, such as volatility and slow mainstream adoption, but advocated for its use as a way to challenge dominant corporate intermediaries.
Recent political moves
Trump’s post follows a period of increased political attention to Bitcoin.
Earlier in March, Trump signed an Executive Order to establish a Strategic Bitcoin Reserve, intended to be funded by federally seized Bitcoin assets.
However, there has been little progress since, and confusion persists over reports that the government may have sold a significant portion of its Bitcoin holdings.
Last week, Trump signed the GENIUS Act, which creates a regulatory framework and consumer protections for stablecoins in the United States.
BTC price
At the time of publication, Bitcoin was trading at $118,622, down 0.46% in the last 24 hours and nearly 3% over the past week. In contrast, Ethereum surged 23%, Dogecoin rose 32%, and Solana climbed 11% over the same period.
